Ranaz has issued 3,000,000 units at $0.60 per unit. Each unit comprises one share and half a warrant, with each whole warrant entitling its holder to purchase one share at $0.75 for a 24-month period.

"This financing will allow us to both pursue our expansion plan and broaden our base of institutional investors, who now represent about 20% of our shareholders," said Jean Bourassa-Marineau, President and Founder of Ranaz. "The funds from the financing will primarily be used to increase the nutritional bar production capacity at BarTech (USA). We expect the expansion to take place in the fourth quarter, leading to lower costs for all Protidiet and ProtiLife brand nutritional bars as of the first quarter of 2009."

The financing is subject to the approval of the TSX Venture Exchange.

The common shares issued pursuant to the placement are eligible for the SME Growth Stock Plan. Industrial Alliance Securities Inc. (IAS) acted as the agent for the private placement, and was paid a fee of $144,000 or 8% of the gross proceeds of the private placement. As an additional fee, Ranaz issued 300,000 non-transferable broker warrants to IAS (each a "broker warrant") representing 10% of the number of units sold. Each broker warrant entitles IAS to purchase one unit at $0.75 for a period of 18 months.

The common shares and warrants issued pursuant to the private placement are subject to a four-month hold period ending on January 17, 2009, in accordance with the applicable securities legislation and the policies of the TSX Venture Exchange. -- www.cnxmarketlink.com