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Published in Business and Finance on Monday, December 14th 2009 at 5:37 GMT by Market Wire

TORONTO, ONTARIO--(Marketwire - Dec. 14, 2009) - The Special Committee of the Board of Directors of Royal Laser Corp. (the "Company" or "Royal Laser") (TSX:RLC) today announced its engagement of National Bank Financial Inc. ("NBF") as its financial advisor in response to the unsolicited offer received by the Company to purchase its common shares at a price of approximately $0.31 per share. The unsolicited offer is for the steel processing assets of Venture Steel which was announced by the Company on November 17.
The Company announced on November 17 an offer by Bill Iannaci, Co-Chief Executive Officer of Royal Laser, to acquire the assets of Royal Laser other than the steel processing assets for approximately $12,700,000 to be satisfied by the assumption of approximately $8,100,000 in short and long-term debt, $3,500,000 in capital leases and the payment of approximately $1,100,000 in cash.
The Company also announced on November 17 the formation of its Special Committee consisting of Irving Teper, Alex Shnaider, Hon. Herb Dhaliwal and Vic Alboini. NBF will assist the Special Committee in considering both offers and any others that may be made as a result of the interest expressed by several other companies which have approached the Company.
About Royal Laser Corp.
Royal Laser Corp., through its operations, services, processes and distributes flat-rolled steel targeted at the multi-billion dollar automotive OEM, automotive after-market, and custom fabricates products for the industrial, environmental, automotive and construction industries in Canada, the United States and recently Mexico. The Company's common shares trade on the Toronto Stock Exchange under the symbol "RLC" and there are approximately 97 million shares outstanding.
For further information on the Corporation, please visit SEDAR at [ www.sedar.com ].
To receive Company news by email, please contact [ info@royallaser.com ] and specify "Royal Laser news" in the subject line.
Forward-Looking Statements
Certain statements contained in this press release include statements which contain words such as "anticipate", "could", "should", "expect", "seek", "may", "intend", "likely", "will", "believe" and similar expressions, statements relating to matters that are not historical facts, and such statements of our beliefs, intentions and expectations about development, results and events which will or may occur in the future, constitute "forward-looking information" within the meaning of applicable Canadian securities legislation and are based on certain assumptions and analysis made by us derived from our experience and perceptions. All such forward-looking information is based on certain assumptions and analyses made by us in light of our experience and perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate in the circumstances. The risks, uncertainties, and assumptions are difficult to predict and may affect operations, and other factors, many of which are beyond our control, and are as discussed under the heading "Trends, Risks and Uncertainties" and in the Annual Information Form of Royal Laser dated June 29, 2009 and filed on SEDAR at [ www.sedar.com ], as well as Royal Laser's periodic reports filed with the Ontario Securities Commission and other regulatory authorities. Actual results, performance or achievements could differ materially from those expressed in, or implied by, this forward-looking information and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits will be derived therefrom. Except as required by law, Royal Laser Corp. disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. The forward-looking information contained herein is expressly qualified by this cautionary statement.
The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.