By Sheri Kasprzak
Atlanta, Jan. 31 - Raymor Industries Inc. said it plans to raise up to C$2.7 million in a private placement of units.
The offering includes up to 14,210,526 units at C$0.19 each. The units are comprised of one share and one warrant.
The warrants allow for an additional share at C$0.25 each for one year.
Raymor, based in Montreal, develops and produces recycled metals for special applications. The proceeds from the private placement will be used for working capital, production and the development of specialized metal projects.
| Issuer: | Raymor Industries Inc.
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| Issue: | Units of one share and one warrant
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| Amount: | C$2.7 million
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| Units: | 14,210,526
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| Price: | C$0.19
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| Warrants: | One warrant per unit
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| Warrant expiration: | One year
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| Warrant strike price: | C$0.25
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| Pricing date: | Jan. 31
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| Stock price: | C$0.24 at close Jan. 31
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