African oil signs agreement with another company

[sheekh-Farax-zero]

Raytec Metals Corp. is a well-financed, Canadian exploration company with a vision to become a significant player in the developing oil and gas industry in East and Central Africa. Recently the Company signed an agreement with Africa Oil Corp. that gives Raytec the right to earn an interest in five highly prospective petroleum blocks located in the Republic of Kenya and in Puntland, Somalia. The Company also holds 14.76% interest in Encanto Potash Corp., a junior potash exploration company, and has invested $6.5 million into a joint-venture to increase its holdings to approximately 29%. Raytec holds a 20% interest in Sulphur Solutions Inc., an emerging fertilizer company developing state-of-the-art patented technology for the production of micronized sulphur fertilizer. The Company is further diversified with a uranium joint venture project in the Athabasca Basin of Saskatchewan and an iron ore project in Ontario.


On behalf of the Board, RAYTEC METALS CORP.


“Brian Thurston”, President and CEO