Vancouver, British Columbia TSX: GSL AIM: GSL
NEWS RELEASE
COMPLETION OF PRIVATE PLACEMENT TO RAISE C$39.6 MILLION
Greystar Resources Ltd. (the "Company") is pleased to announce the successful completion of the private placement of up to 8 million common shares (the "Offering"), as notified on 28 June 2007. The Offering at C$6.60 per share was arranged by a syndicate of agents led by RBC Capital Markets and including Ocean Equities Ltd., BMO Capital Markets and Scotia Capital Inc. (collectively, the "Agents") and, with the total of 8 million shares being placed, raised a gross total of C$39,600,000.
The net proceeds from the Offering will be used to advance the Company's Angostura project in Colombia to feasibility, for exploration and for general working capital.
The Offering is subject to certain conditions including, but not limited to, the execution of a definitive agency agreement with the Agents and the receipt of all necessary approvals, including the approval of the TSX. Application has been made to the London Stock Exchange to admit 8,000,000 common shares in the Company to trading on AIM. The new shares will rank pari passu with the Company's existing common shares and it is expected that dealings in the new shares will commence at 8.00am on 13 July 2007.
This press release is not an offer of the securities for sale in the United States. The securities offered have not been, nor will be, registered under the U.S. Securities Act of 1933, as amended, or state securities laws and may not be offered or sold in the United States absent registration or an exemption from the registration requirements of such laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.
Forward-Looking Statements
Certain statements included in this press release are "forward-looking statements" within the meaning of Canadian securities legislation including, among other things, statements regarding the anticipated date of pricing and closing of the Offering. Forward-looking statements are necessarily based on assumptions that, while considered reasonable by the Company, are inherently subject to significant business and economic uncertainties and contingencies. Many factors could cause the Company's actual results to differ materially from those expressed or implied in any forward-looking statements made by the Company including, among other things, risks relating to fluctuation in financial markets and commodity prices. Particulars of other risks are set out under the heading "Risk Factors" in the Annual Information Form of the Company dated March 30, 2007 which is available on SEDAR at www.sedar.com. Investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein. The Company disclaims any intention or obligation to update or revise any forward-looking statements other than as request by securities legislation.
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Contact in Canada |
Contacts in London |
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Mr. David Rovig, President Greystar Resources Ltd. Phone: (406) 245-9520 Website: www.greystarresources.com |
Parkgreen Communications Samantha Dunning +44 (0) 20 7493 3713 |
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Or Louise Goodeve +44 (0) 20 7493 3713 | |
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Insinger de Beaufort Christopher Caldwell +44 (0) 20 7190 7022 |
No Stock Exchange has reviewed or accepts responsibility for the adequacy or accuracy of this news release.
