Rapid Brands Announces Change of Name to RAP Acquisition Corp.

TORONTO, Aug. 19 /CNW/ - Further to Rapid Brands Inc.'s (the "Company") (NEX: RAP.H) press release dated June 18, 2010, the Company announces that on August 19, 2010 it has changed its name to RAP Acquisition Corp.

The change of name to RAP Acquisition Corp. was approved by the shareholders of the Company at the Company's annual and special shareholder meeting held on June 15, 2010. 

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. 

Forward Looking Statements

By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, which give rise to the possibility that predictions, forecasts, projections and other forward-looking statements will not be achieved.  We caution you not to place undue reliance on these statements as a number of important factors could cause our actual results to differ materially from those expressed in such forward-looking statements.  These statements are not a guarantee of future performance and are subject to risks and uncertainties that could cause actual results to differ materially including management of market, liquidity and funding and operational risks, the impact of changes in laws and enforcement thereof, the strength of the overall economy, our ability to manage costs and other variable operating expenses and other factors set forth in reports and other documents filed with the relevant Canadian securities regulatory authorities from time to time including our quarterly and annual management discussion and analysis.  We caution that the foregoing list of factors that may affect future results is not exhaustive. 

In addition, we have made assumptions in the preparation of this release including that the operating requirements of our current business will not materially change necessitating material change to our operating expense structure. The foregoing assumptions, although considered reasonable by us at the date of this release, could prove to be inaccurate and consequently our actual results could differ materially from expectations set out herein.  This assumption covers significant areas, but is not comprehensive in scope.  Please see previously issued documents to provide additional information and details as well as other potential risks.

For further information:

Ronald D. Schmeichel, Director, CEO and Secretary, RAP Acquisition Corp., Tel: [phone]. Email: [email protected]