Greystar Resources Ltd. announces a private placement of up to a total of 7,500,000 units (the “Units”). Each Unit will consist of one Common share without part value in the capital stock of the Company and one non-transferable Common share purchase warrant (the “Warrant”) at a price of $0.16 per Unit for total proceeds of up to $1,200,000. One Warrant shall entitle the subscribers to purchase one Common share without par value in the capital stock of the Company over a twelve month period extending from the closing of this Unit offering (subject to certain early termination provisions as set out in the form of Subscription Agreement) at a price of $0.32 per share.
The proceeds from the private placement will be used to sustain the Company and its Angostura Project in Colombia. Efforts will also be continued to identify a funding partner for the Angostura Project. The private placement is subject to approval by The Toronto Stock Exchange.