Tim Peterson has announced in an early warning acquisition report that he has acquired an additional 100,000 common shares in RIFCO on the TSX Venture Exchange. After giving effect to this transaction Peterson owns 524,444 common shares directly, controls 335,334 common shares which are beneficially owned by family, and indirectly owns 2,450,000 common shares (12.74%) through Sorbrick Capital Corp for a total of 3,309,778 (17.21%). There are no other persons acting jointly or in concert with Peterson. The purchase is for investment purposes only and Peterson is considering additional purchases. As of January 3, 2008, RIFCO has outstanding 19,229,598 common shares.