By Sheri Kasprzak
Atlanta, March 7 - Raymor Industries Inc. closed a downsized private placement of units for C$2,215,350.
The company sold 11,659,737 units at C$0.19 each to 39 investors.
The units are comprised of one share and one warrant. The warrants allow for an additional share at C$0.25 through March 4, 2006.
The offering was first announced Jan. 31 as a C$2.7 million offering of up to 14,210,526 units.
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.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$2,215,350
|
| Units: | 11,659,737
|
| Price: | C$0.19
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | March 4, 2006
|
| Warrant strike price: | C$0.25
|
| Pricing date: | Jan. 31
|
| Settlement date: | March 4
|
| Stock price: | C$0.24 at close Jan. 31
|
| Stock price: | C$0.235 at close March 4
|
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