FREEHOLD, N.J., Dec. 21, 2011 (GLOBE NEWSWIRE) -- Lantis Laser Inc. (OTCQB:LLSR), is pleased to announce it has acquired an 80% controlling equity stake in an OTCQB publicly traded company, Raptor Networks Technology, Inc. (OTCQB:RPTN) in exchange for 5 million shares of Lantis' common stock. LLSR expects to utilize the Raptor accumulated losses to off-set future taxable income from our gold and other mining and minerals endeavors Lantis is actively pursuing in Zimbabwe. We encourage you to review the recent 8-K filing for details.
The acquisition of Raptor houses under Lantis' corporate umbrella a third subsidiary to consolidate with Lantis' financial operations, joining two wholly-owned subsidiaries, namely TAG Minerals Inc., a mineral resource acquisition, exploration, and development company and Lantis Laser, Inc., a New Jersey corporation, that houses our dental technology business unit. Lantis' intentions are to restructure both the parent company and Raptor during the 1st quarter of 2012 into a mining and minerals focused organization to complement TAG Minerals Inc. and its operating affiliate, TAG Minerals Zimbabwe (Private) Limited, in exploring and developing what we believe are the many exciting mining and minerals opportunities that abound in Zimbabwe. Together, mining our own mineral claims, as well as continuing to acquire seasoned mining and mineral assets is at the heart of our corporate strategy, one we anticipate will reward our loyal shareholders heading into volume production during 1st Qtr 2012.
Al Pietrangelo, CEO of Lantis, stated, "The acquisition of Raptor has set the stage for Lantis to re-position itself going forward, and be recognized as a pure play in the hard asset or natural resources sector." He continued, "Bringing in another majority owned subsidiary, traded under its own stock symbol, we believe creates enormous strategic and financial opportunities for Lantis. We want to maximize shareholder value, a goal we believe is critical for small to medium sized companies seeking to become a highly sought after investment in the marketplace, and are appreciative to the role the Raptor management played in looking after their shareholders' best interests during the transaction."
Lantis Laser Inc. (parent/holding Company)
Lantis Laser Inc. is the parent/holding Company with two independently operating wholly-owned subsidiaries, Lantis Laser, Inc. (New Jersey) and TAG Minerals Inc. along with the 80% controlling equity stake in Raptor Networks that will be restructured during the 1st quarter.
About TAG Minerals Inc.
TAG Minerals is a U.S. based (incorporated in Wyoming) mineral resource acquisition, exploration and development company, with operations conducted through its operating affiliate, TAG Minerals Zimbabwe (Private) Limited. The company's business is managed by its directors and officers who have mineral extraction and commercial experience. TAG's strategy is to identify, acquire and exploit mineral properties that have potential. TAG Minerals is augmented by independent financial, geological, and mining professionals who advise the company on its mining and exploration projects throughout Zimbabwe, Africa.
To find out more about the mining equipment utilized by TAG; visit www.extrac-tec.com
About Lantis Laser, Inc. (New Jersey)
Lantis Laser, Inc. is developing under license, synergistic, high resolution, light-based imaging modalities which can detect decay and microstructural defects at an early stage, and unlike x-ray, do not emit potentially harmful ionizing radiation. Its products are in development and cannot be sold until FDA clearance for marketing is obtained.
For more news on OCT in Dentistry; visit: www.octnews.org
Safe Harbor.
Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The company intends that such statements about the company's future expectations, including future revenues and earnings, technology efficacy and all other forward-looking statements be subject to the safe harbors created thereby. The company is a development stage company who continues to be dependent upon outside capital to sustain its existence. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results.