GROVELAND, Fla., May 3, 2011 /PRNewswire/ -- Raptor Technology Group, Inc., (OTCBB: RAPT) who is in the process of acquiring Raptor Fabrication & Equipment, Inc., ("Raptor FE") is pleased to provide an update on business activity of the Company.

Mr. Tom Gleason has been appointed President and CEO of Raptor Technology Group. Mr. Gleason was the founder and president of Raptor Fabrication and Equipment, Inc. and has extensive hands on experience manufacturing automated, continuous biodiesel production systems as well as processes and systems for mineral recovery from mine tailings. Gleason was Project Manager working through Raptor Fabrication and Equipment for a Department of Defense and the Defense Advanced Research Projects Agency (DARPA) algae to jet fuel project and biodiesel fuel project for the Department of Energy.

Raptor Fabrication and Equipment, Inc. hired MaloneBailey, LLP to audit their 2009-2010 financial statements needed to complete the merger with Raptor Technology Group, Inc., (OTCBB: RAPT). MaloneBailey, LLP has completed their audit review of the financial statements for that period and Raptor FE is now preparing the interim period and other required statements for their review.

Additionally, Raptor FE has engaged a PCAOB qualified accounting firm as consulting accountants to assist with the completion of the remaining financials and transition Raptor FE to ongoing periodic financial reporting.

About Raptor Technology Group, Inc.

Raptor Technology Group, Inc., has signed a "Plan of Merger Agreement" with Raptor Fabrication & Equipment, Inc. and anticipates the business combination to be completed in the near future but has not completed the acquisition at this time. Raptor Fabrication & Equipment, Inc., is a technology supplier that provides eco-friendly and green solutions to global issues. The company is committed to developing reliable fuel and energy alternatives by making them both dependable and economically appealing to the manufacturer as well as the consumer. Additional patent pending technology has also been developed to recover rare earth minerals from endless miles of mine tailings. This technology provides an eco-friendly means of recycling these mine tailings both economically and profitably.

Raptor Technology Group, Inc. has positioned itself to become a leader in the biofuel and mining industries with their advanced proprietary biofuel production technology and mineral recovery technologies. Their constant drive for eco-friendly business solutions and economically profitable business models will secure Raptor Technology Group, Inc. as a leader in alternative energy and remediation sectors.

Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: The statements in this release relating to completion of the acquisition of Raptor Fabrication & Equipment, Inc. by Raptor Technology Group, Inc. and the positive direction are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Some or all of the results anticipated by these forward-looking statements may not occur. Factors that could cause or contribute to such differences include, but are not limited to, contractual difficulties which may arise, the failure to obtain necessary approvals, the future market price of Raptor Technology Group, Inc. common stock, the ability to obtain the necessary financing and the failure of Raptor Technology Group, Inc. to complete the acquisition of Raptor Fabrication & Equipment, Inc.

Contact
Raptor Technology Group, Inc.
7064 Sampey Road
Groveland FL. 34736
Phone: (321)274-9675
Website: www.raptortechnologygroup.com
Email: info@raptortechnologygroup.com

SOURCE Raptor Technology Group, Inc.