By Sheri Kasprzak
New York, April 27 - Raymor Industries Inc. has settled a C$10 million private placement.
The deal includes 8,333,333 units at C$1.20 each.
The units are comprised of one share and one half-share warrant. Each full warrant is exercisable for another share at C$1.75 for one year.
The proceeds will be used to increase production of single-walled carbon nanotubes, to acquire additional equipment for metallic powders and coatings, to hire additional human resources personnel and to make strategic acquisitions. The remainder will be used for working capital.
Based in Montreal, Raymor develops materials used in nanotechnology.
| Issuer: | Raymor Industries Inc.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$10 million
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| Units: | 8,333,333
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| Price: | C$1.20
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| Warrants: | 0.5 warrant per unit
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| Warrant expiration: | One year
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| Warrant strike price: | C$1.75
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| Settlement date: | April 27
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| Stock symbol: | TSX Venture: RAR
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| Stock price: | C$1.60 at close April 26
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