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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When I saw this I thought nwoboy ought to know .........
September 23, 2009 |
| Raymor Industries has Obtained a Court Order Against Former Officer |
| BOISBRIAND, QUEBEC--(Marketwire - Sept. 23, 2009) - Raymor Industries Inc. ("Raymor") (TSX VENTURE:RAR) announces that it has obtained on September 16, 2009 a court order from the Superior Court of Quebec prohibiting Stephane Robert from holding office as a director of Raymor until a final decision is rendered with respect to the court proceeding filed on August 14, 2009 previously announced by press release on August 18, 2009. Raymor also announces that a settlement was reached with certain defendants with respect to the same court proceeding. The terms of the settlement are confidential and will notably result in the cancellation, subject to the authorization of all required regulatory approvals, of one of the secured convertible debentures issued in the private placement announced by press release on June 12, 2009. In light of this settlement, an amended proceeding will be filed with the Superior Court of Quebec. Caution regarding forward-looking statements: Certain statements contained in this release contain forward-looking statements. Those statements reflect Raymor's current views with respect to future events or conditions. Certain material factors and assumptions were applied in drawing Raymor's conclusions and making those forward-looking statements. By their nature, those statements reflect management's current views, beliefs and assumptions and are subject to certain risks and uncertainties, known and unknown, including, without limitation, the uncertainty as to the outcome of court proceedings and of any amount that may be received by Raymor as a result of such proceedings. Many factors could cause Raymor's actual results, performance or achievements to be materially different from any future results that may be expressed or implied by these forward-looking statements. ON BEHALF OF THE BOARD OF DIRECTORS, Roland Veilleux, Chairman of the Board. |
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