Obtains Extension

Welcome To The Raymor Industries HUB On AGORACOM

A leading Canadian developer of high technology and a producer of advanced materials and nanomaterials

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Clavis

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Obtains Extension

posted on Feb 17, 2009 02:43AM

February 17, 2009

Raymor Obtains Extension

BOISBRIAND, QUEBEC--(Marketwire - Feb. 17, 2009) - Raymor Industries Inc. ("Raymor") (TSX VENTURE:RAR) announces that after representation from the management, the court awarded on February 13th an extension to the Notice of Intent allowing the company seven additional days to finalize its financing. Management actively pursues discussion with various funding sources to secure the necessary financing. This financing should enable the company to make a proposal to creditors.

"We are very happy about the turn of events; this extension provides the company with a fighting chance to establish the financing it needs". said Stephane Robert , President of Raymor Industries Inc.

The management intends to continue providing regular and timely updates with respect to both financial position and creditor obligations.

About Raymor Industries

RAYMOR INDUSTRIES INC. (TSX VENTURE:RAR) has as its mission to become a leading developer of high technology for the production of single-walled carbon nanotubes, nanomaterials and other advanced materials for high value-added applications. Raymor Industries operates three wholly-owned, industrial subsidiaries, Raymor Nanotech, Raymor Aerospace and AP&C Advanced Powders and Coatings, specializing in nanotechnology and advanced materials, and comprising four divisions: (1) nanotechnology products, including nano-powders, nano-coatings, and single-walled carbon nanotubes (C-SWNT) for "the applications of tomorrow"; (2) thermal spray coatings, which largely targets military, aeronautical, aerospace, specialized industrial, and mining applications; (3) spherical metallic powders, primarily used for biomedical and aerospace applications; and (4) net-shape forming, a component manufacturing technique used for ballistic protection and other aerospace and military applications. Raymor holds the exclusive rights to more than 20 patents throughout the world, with other patents pending.

ON BEHALF OF THE BOARD OF DIRECTORS

Stephane Robert, President.

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