Greystar Resources Ltd.

Greystar Resources Ltd.

March 30, 2009 20:30 ET

Greystar Resources Ltd. Launches Private Placement of Up to 12,500,000 Shares

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 30, 2009) -


Greystar Resources Ltd. (the "Company") (TSX:GSL)(AIM:GSL) announces that it has appointed a syndicate of agents led by Ocean Equities Ltd. including RBC Capital Markets and Scotia Capital Inc. (collectively, the "Agents") to act on a best efforts agency basis in connection with a marketed private placement of up to 12.5 million common shares (the "Offering") at a price of C$4.01 per share.

The Offering is anticipated to close on or about the week of April 20th, 2009.

The net proceeds from the Offering will be used to advance the Company's Angostura project in Colombia through final feasibility, 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. An application will be made to the London Stock Exchange to admit the common shares to be issued pursuant to the Offering to AIM at the Offering's close.

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 31, 2008 which is available on SEDAR at 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.

Neither the Toronto Stock Exchange nor the AIM Market of the London Stock Exchange has reviewed and neither accepts responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Greystar Resources Ltd. - Contact in Canada
    David B. Rovig
    (406) 245-9520
    Greystar Resources Ltd. - Contact in Canada
    Mr. Andreas Curkovic
    Investor Relations
    (416) 577-9927
    Ocean Equities Ltd. - Contact in London
    Guy Wilkes
    +44 (0) 20 7786 4370
    NCB Stockbrokers Limited - Contact in London
    Christopher Caldwell
    +44 (0) 20 7071 Transit No. 5200