GYD Grayd Resource Corporation

VANCOUVER, Nov. 17 /CNW/ -- /THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/ VANCOUVER, Nov. 17 /CNW/ - Grayd Resource Corporation ("Grayd" or the "Company") (TSX-V:GYD) is pleased to announce that it has closed the private placement equity financing previously announced on October 26, 2010 (the "Offering") with a syndicate of agents led by Canaccord Genuity Corp. and including Macquarie Capital Markets Canada Ltd. and Desjardins Securities Inc. (the "Agents").  The Company has issued 4,800,000 common shares at a price of $1.25 per common share for gross proceeds of $6,000,000. The Agent received a commission of 6% of the gross proceeds raised through the Offering, which was paid in a combination of cash and common shares, and non-transferable warrants ("Broker Warrants") equal to 5% of the common shares issued through the Offering.  The Agents elected to receive their commission in the form of 90,720 common shares and $246,000 in cash.  Each Broker Warrant shall be exercisable to acquire one common share of the Company at an exercise price of $1.25 per common share for a period of 18 months from closing of the Offering.  The Agents also received a corporate finance fee of 30,000 common shares.  Securities issued under the Offering are subject to a hold period which will expire four months and one day from the date of closing, being March 18, 2011. The funds raised from the issuance of the common shares shall be used to fund on-going work programs on the Company's La India project and for general working capital purposes. ABOUT GRAYD RESOURCE CORPORATION Grayd Resource Corporation is a growth-oriented junior natural resource company focused primarily on exploring and developing a large land position in Mexico which is highly prospective for gold and silver mineralization. The Company's Officers and Directors are experienced in all aspects of mineral exploration, development and production and have been involved with several successful mining projects during the past 20 years. The TSX Venture Exchange has neither approved nor disapproved of the information contained herein. The information in this news release may contain forward-looking statements.  When used in this release, words such as "estimate", "expect", "anticipate" and "believe" as well as similar expression are intended to identify forward-looking statements.  Such statements are used to describe management's future plans, objects, and goals for the Company and therefore involve inherent risks and uncertainties.  The reader is cautioned that actual results, performance or achievements may be materially different from those implied or expressed in such statements, which speak only as of the date the statements were made.  Except as required by applicable securities laws, the Company does not update forward-looking statements continually as conditions change. pMarc A. Prefontaine - President and CEO Tel: (604-681-7446) or ua href="http://www.grayd.com"www.grayd.com/a/u./p

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