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Article: Raytec to acquire Lion Petroleum Corp.

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PR Newswire
Article date:
August 25, 2009
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TSX.V-RAY

VANCOUVER, Aug. 25 /PRNewswire-FirstCall/ -- Raytec Metals Corp. (the "Company" or "Raytec") (TSX.V - RAY) announced today that it has entered into a binding Letter of Intent ("LOI") with Lion Petroleum Corp. ("Lion"), subject to certain conditions and completion of due diligence process. Lion is a privately held oil and gas exploration company based in Vancouver, British Columbia, with an exploration office in Nairobi, Kenya. Lion's principal assets are Blocks 1 and 2B, both highly prospective exploration Blocks in Northeastern Kenya.

Blocks 1 and 2B:

Lion is party to Production Sharing Contracts ("PSC") with the Government of the ...

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