More on GRIN
Don't forget about these shares. Even after the R/S the insiders bought 357,250@$1.40 and have warrants to buy 357,250 @ $2.12 a share.
Insiders always get good deals. Pump and Dump?
kaz
Grand Toys International Raises $500,000 in Private Placement
MONTREAL, Apr 16, 2001 /PRNewswire via COMTEX/ -- Grand Toys International, Inc. (GRIN) today announced it had raised $500,000 from a private sale of its securities to insiders of Grand Toys and affiliates of such insiders. The offering consisted of 1,429,000 units at a price of U$0.35 per unit. Each unit consists of one Common share and one Common Share Purchase Warrant. The warrants have a term of three years and are exercisable at a price of U$ 0.53 per share.
The capital infusion will be used for general corporate purposes and to fund the development of Grand's proprietary properties. No commissions or finders' fees are payable in connection with the private placement.
Founded in 1960, Grand Toys International, Inc. is a premier licensee and distributor of a wide variety of toys and ancillary items in Canada and since January 1999, a supplier of proprietary products in the United States.
This news release contains certain forward-looking statements and potential benefits from the Company's acquisition strategy, which are within the meaning of the Private Securities Litigation Reform Act of 1995, and are subject to risk and uncertainties that could cause actual results to differ materially. Such risks and uncertainties include, but are not limited to, those related to business conditions and the financial strength of the retail industry, particularly for toy and toy-related products; the level of consumer spending for such products; the effect of currency translations; the ability of the Company to successfully obtain its products from suppliers; and the success of advertising, marketing and promotional campaigns.
SOURCE Grand Toys International, Inc.
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