By Sheri Kasprzak
New York, Jan. 30 - Grayd Resource Corp. said it intends to raise C$4.8 million in a private placement.
The offering includes up to 4 million units at C$1.20 each.
The units consist of one share and one half-share warrant. The whole warrants are exercisable at C$1.50 each for one year.
Haywood Securities Inc. is the lead agent, and Pacific International Securities Inc. and Canaccord Capital Corp. are the co-agents.
Proceeds will be used for exploration and working capital.
Based in Vancouver, B.C., Grayd is a mineral exploration, acquisition and development company.
| Issuer: | Grayd Resource Corp.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$4.8 million
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| Units: | 4 million
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| Price: | C$1.20
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | One year
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| Warrant strike price: | C$1.50
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| Placement agents: | Haywood Securities Inc. (lead), Pacific International Securities Inc. and Canaccord Capital Corp.
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| Pricing date: | Jan. 30
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| Stock symbol: | TSX Venture: GYD
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| Stock price: | C$1.30 at close Jan. 30
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