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Radiant Energy Corp., the Orchard Park aircraft de-icing equipment maker, plans to raise up to $1.5 million through a private debt offering.

The company's officers and directors intend to buy about 40 percent of the debt securities that will be sold through the private placement, which is expected to occur around March 15, Radiant Energy said.

The convertible debentures can be converted into Radiant Energy stock at any time for about $1.65 Canadian per share during the first two years, $1.90 per share during the third year, $2.15 per share during the fourth year and $2.67 per share during the fifth year.

Radiant Energy makes an aircraft de-icing system that uses infrared heaters to defrost airplanes, rather than conventional chemical sprays.

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