<HTML><HEAD>
</HEAD>
<BODY>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><FONT size=1></FONT>&nbsp;</P>
<HR align=left color=#000000 noShade SIZE=3>

<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><FONT size=1></FONT>&nbsp;</P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" align=center><FONT face="Times New Roman" color=#000000 size=5><B>UNITED STATES </B></FONT></P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" align=center><FONT face="Times New Roman" color=#000000 size=5><B>SECURITIES AND EXCHANGE COMMISSION </B></FONT></P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" align=center><FONT face="Times New Roman" color=#000000 size=3><B>Washington, D.C. 20549 </B></FONT></P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><FONT size=1></FONT>&nbsp;</P>
<HR width="17%" color=#000000 noShade SIZE=1>

<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><FONT size=1></FONT>&nbsp;</P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" align=center><FONT
face="Times New Roman" color=#000000 size=5><B>FORM 8-K </B></FONT></P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><FONT size=1></FONT>&nbsp;</P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" align=center><FONT face="Times New Roman" color=#000000 size=3><B>CURRENT REPORT</B></FONT></P><p>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" align=center><FONT face="Times New Roman" color=#000000 size=3><B>Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</B></FONT></P><p>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" align=center><FONT face="Times New Roman" color=#000000 size=3><B>Date of Report (Date of earliest event reported): December 1, 2007</B></FONT></P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><FONT size=1></FONT>&nbsp;</P>
<HR width="17%" color=#000000 noShade SIZE=1>

<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><FONT size=1></FONT>&nbsp;</P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" align=center><FONT face="Times New Roman" color=#000000 size=6><B>RAPHAEL INDUSTRIES LTD.</B></FONT></P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" align=center><FONT face="Times New Roman" color=#000000 size=1><B>(Exact name of registrant as specified in charter) </B></FONT></P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><FONT size=1></FONT>&nbsp;</P>
<HR width="17%" color=#000000 noShade SIZE=1>

<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><FONT size=1></FONT>&nbsp;</P>
<TABLE cellSpacing=0 cellPadding=0 width="100%" align=center border=0>
  <TR>
    <TD vAlign=top align=middle width="31%">
      <P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" align=center><FONT face="Times New Roman" color=#000000 size=2><B>Nevada</B></FONT></P></TD>
    <TD vAlign=bottom width="3%"><FONT face="Times New Roman" size=1>&nbsp;</FONT></TD>
    <TD vAlign=top align=middle width="31%">
      <P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" align=center><FONT face="Times New Roman" color=#000000 size=2><B></B></FONT>&nbsp;</P></TD>
    <TD vAlign=bottom width="3%"><FONT face="Times New Roman" size=1>&nbsp;</FONT></TD>
    <TD vAlign=top align=middle width="31%">
      <P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" align=center><FONT face="Times New Roman" color=#000000 size=2><B>20-3717729</B></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top align=middle width="31%">
      <P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" align=center><FONT face="Times New Roman" color=#000000 size=1><B>(State or other jurisdiction</B></FONT></P></TD>
    <TD vAlign=bottom width="3%"><FONT face="Times New Roman" size=1>&nbsp;</FONT></TD>
    <TD vAlign=top align=middle width="31%">
      <P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" align=center><FONT face="Times New Roman" color=#000000 size=1><B></B></FONT>&nbsp;</P></TD>
    <TD vAlign=bottom width="3%"><FONT face="Times New Roman" size=1>&nbsp;</FONT></TD>
    <TD vAlign=top align=middle width="31%">
      <P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" align=center><FONT face="Times New Roman" color=#000000 size=1><B>(I.R.S. Employer</B></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top align=middle width="31%">
      <P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" align=center><FONT face="Times New Roman" color=#000000 size=1><B>of incorporation)</B></FONT></P></TD>
    <TD vAlign=bottom width="3%"><FONT face="Times New Roman" size=1>&nbsp;</FONT></TD>
    <TD><FONT size=1>&nbsp;</FONT></TD>
    <TD vAlign=bottom width="3%"><FONT face="Times New Roman" size=1>&nbsp;</FONT></TD>
    <TD vAlign=top align=middle width="31%">
      <P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" align=center><FONT face="Times New Roman" color=#000000 size=1><B>Identification No.)</B></FONT></P></TD></TR></TABLE>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><FONT size=1></FONT>&nbsp;</P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><FONT size=1></FONT>&nbsp;</P>
<TABLE cellSpacing=0 cellPadding=0 width="100%" align=center border=0>
  <TR>
    <TD vAlign=top align=middle width="48%">
      <P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" align=center><FONT face="Times New Roman" color=#000000 size=2><B>Suite 700, One Executive Place, 1816 Crowchild Trail N.W., Calgary, Alberta </B></FONT></P></TD>
    <TD vAlign=bottom width="3%"><FONT face="Times New Roman" size=2>&nbsp;</FONT></TD>
    <TD vAlign=top align=middle width="48%">
      <P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" align=center><FONT face="Times New Roman" color=#000000 size=2><B>T2M 3Y7</B></FONT></P></TD></TR>
  <TR>
    <TD vAlign=top align=middle width="48%">
      <P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" align=center><FONT face="Times New Roman" color=#000000 size=2><B>(Address of principal executive offices)</B></FONT></P></TD>
    <TD vAlign=bottom width="3%"><FONT face="Times New Roman" size=2>&nbsp;</FONT></TD>
    <TD vAlign=top align=middle width="48%">
      <P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" align=center><FONT face="Times New Roman" color=#000000 size=2><B>(Zip Code)</B></FONT></P></TD></TR></TABLE>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><FONT size=2></FONT>&nbsp;</P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><FONT size=2></FONT>&nbsp;</P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" align=center><FONT face="Times New Roman" color=#000000 size=2><B>Registrant's telephone number, including area code: (866) 261-8853 </B></FONT></P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px"><FONT size=1></FONT>&nbsp;</P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" align=center><FONT face="Times New Roman" color=#000000 size=2><b>N/A</b></FONT></P>
<P style="MARGIN-TOP: 0px; MARGIN-BOTTOM: 0px" align=center><FONT face="Times New Roman" color=#000000 size=2><b>(Former name or former address, if changed since last report)</b> </FONT></P><P>
<HR align=left color=#000000 noShade SIZE=2>

<P align=justify><B>ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.</B></p>
<P align=justify>Raphael Industries Ltd. ("Raphael") announced that on December 1, 2007 Raphael extended its license agreement with Global Commodity Press ("GCP") until December 1, 2009. The main provisions of the license agreement authorize Raphael to market GCP's lists to companies, individuals or other entities that are prospective users of the lists. The license agreement stipulates that Raphael shall retain 30% net of rental income.  </p>
<P align=Center><u><B>SIGNATURES</B></u></p>
<P></P>
<P align=justify>Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereto duly authorized. </P>
<P style="MARGIN-LEFT: 150px"><B>RAPHAEL INDUSTRIES LTD.</B>
<P>
<TABLE>
  <TR>
    <TD><B>Signature</B></TD>
    <TD><B>Title</B></TD>
    <TD><B>Date</B></TD></TR>
  <TR>
    <TD>
      <HR color=#000000 noShade SIZE=1>
    </TD>
    <TD>
      <HR color=#000000 noShade SIZE=1>
    </TD>
    <TD>
      <HR color=#000000 noShade SIZE=1>
    </TD></TR>
  <TR>
    <TD>
    &nbsp;
    </TD>
    <TD>
  &nbsp;
  </TD>
    <TD>
  &nbsp;
    </TD></TR>
  <TR>
    <TD vAlign=top><u>ARNE RAABE&nbsp;&nbsp;&nbsp;&nbsp;</u><BR>Arne Raabe</TD>
    <TD>President, Chief Executive Officer,&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      <BR>Chief Financial Officer, Secretary <BR>and Director</TD>
    <TD vAlign=top>December 4, 2007</TD></TR></TABLE></P></BODY></HTML>
[{"type": "8-K", "sequence": "1", "filename": "ri0712018k.htm", "secsgml_size_bytes": 8309}]
{"company-data": {"conformed-name": "RAPHAEL INDUSTRIES LTD.", "cik": "0001367408", "assigned-sic": "7331", "irs-number": "023717729", "state-of-incorporation": "NV", "fiscal-year-end": "0930"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-52304", "film-number": "071282981"}, "business-address": {"street1": "350 SOUTH CENTER STREET", "street2": "SUITE 500", "city": "RENO", "state": "NV", "zip": "89501", "phone": "866-261-8853"}, "mail-address": {"street1": "350 SOUTH CENTER STREET", "street2": "SUITE 500", "city": "RENO", "state": "NV", "zip": "89501"}}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 1, 2007
RAPHAEL INDUSTRIES LTD.
(Exact name of registrant as specified in charter)
Nevada
20-3717729
(State or other jurisdiction
(I.R.S. Employer
of incorporation)
Identification No.)
Suite 700, One Executive Place, 1816 Crowchild Trail N.W., Calgary, Alberta
T2M 3Y7
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including area code: (866) 261-8853
N/A
(Former name or former address, if changed since last report)
ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
Raphael Industries Ltd. ("Raphael") announced that on December 1, 2007 Raphael extended its license agreement with Global Commodity Press ("GCP") until December 1, 2009. The main provisions of the license agreement authorize Raphael to market GCP's lists to companies, individuals or other entities that are prospective users of the lists. The license agreement stipulates that Raphael shall retain 30% net of rental income.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereto duly authorized.
RAPHAEL INDUSTRIES LTD.
Signature
Title
Date
ARNE RAABE
Arne Raabe
President, Chief Executive Officer,
Chief Financial Officer, Secretary
and Director
December 4, 2007