00:07:04 EST Mon 18 Jan 2021
Enter Symbol
or Name

Grenadier Resource Corp
Symbol GAD
Shares Issued 16,181,414
Close 2015-04-08 C$ 0.30
Recent Sedar Documents

Grenadier closes $181,850 final tranche of placement

2015-05-27 17:00 ET - News Release

Mr. Glenn Little reports


Grenadier Resource Corp. has closed the third and final tranche of the previously announced non-brokered private placement of units at 27 cents per unit. An aggregate 2,449,932 units were issued for all tranches to raise gross proceeds of $661,482.

On closing of the third tranche, 673,519 units were issued for proceeds of $181,850. Each unit comprises one common share and one share purchase warrant, with each warrant entitling the holder thereof to acquire an additional share at an exercise price of 50 cents per share for a period of six months from the date of closing of the private placement. The warrant terms contain an acceleration provision, such that in the event the company's shares trade at a price of 60 cents or more for 20 consecutive trading days, then the expiry date shall be accelerated and the warrants will become exercisable within 10 business days of the acceleration event occurring. A cash finder's fee of 8 per cent was paid to certain finders.

All securities issued under the private placement are subject to a statutory four-month hold period from the date of issuance.

The proceeds from the private placement will be used for working capital and general corporate purposes, and may be applied to the costs associated with completing the transaction with Laguna Blends Inc. as announced by the company on Jan. 19, 2015.

We seek Safe Harbor.

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