Grayd Resource Corporation
TSX VENTURE : GYD

Grayd Resource Corporation

January 30, 2006 17:05 ET

Grayd Resource Announces $4.8 Million Private Placement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 30, 2006) - Grayd Resource Corporation (TSX VENTURE:GYD) has engaged Haywood Securities Inc. as Lead Agent and Pacific International Securities Inc. and Canaccord Capital Corporation as Co-Agents (collectively the "Agents") in connection with a private placement of 4,000,000 units at a price of $1.20 per unit. Each unit will consist of one common share in the capital of Grayd and one-half of a share purchase warrant. Each full warrant will entitle the holder thereof to purchase one additional share of Grayd at a price of $1.50 per share for a one year period following closing.

The Agents will receive a commission equal to 6% of the gross proceeds raised from the sale of the units and 6% broker warrants.

Gross proceeds from the private placement totaling $4,800,000 will be used by Grayd for project generation, related exploration and for general working capital purposes. This transaction is subject to regulatory acceptance.

Grayd Resource Corporation is a natural resource company engaged in the acquisition, exploration and development of mineral resource properties.


The TSX-V has neither approved nor disapproved of the information contained herein.

Contact Information

  • Grayd Resource Corporation
    Marc A. Prefontaine, M.Sc., P.Geo.
    President and CEO
    (604) 681-7446
    (604) 684-9877 (FAX)
    www.grayd.com
    or
    Freeform Communications Inc.
    (604) 288-7222