World Bank Group Member Invests $12 Million In Greystar Resources

Greystar Resources Ltd. has announced that the International Finance Corporation, a member of the World Bank group that focuses on private-sector investment, has committed to pick up 6,579,161 units of Greystar at a price of C$1.83 per unit. Gross proceeds will be $12,039,864. Each unit contains one share and 3/4 of a (transferrable) purchase warrant. The warrants have an exercise price of $2.47 and life of five years. This transaction is expected to close at the end of this month. The news release has further details, including an early-expiry provision for the warrants. Proceeds of the financing are to be spent on its Angostura gold project in Columbia.

This item was released last night, after trading ended. Greystar closed yesterday at $3.54, up 45 cents on the day. Current bid and ask are both $3.55, indicating a slightly higher opening.

The company's Google Finance web page is here.

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