Granite Real Estate Investment Trust T.GRT.UN

New financing announcement

[jon8034]

With 4 million flow through shares at .58 and 6 million regular shares with .5 warrants at .55 and recent share structure from merger we could see significant ADDITIONAL selling pressure. Would have been nice if they could have waited until the selling pressure from the merger was finished and stock had come back up to .70. As it is, it could be August now IMHO until we see a significant sustained move back up to that "lofty" price. G2 Resources arranges $5-million private placement G2 Resources Inc (C:GRT) Shares Issued 50,312,191 Last Close 2/13/2007 $0.55 Wednesday February 14 2007 - News Release Mr. Curtis Hartzler reports G2 ANNOUNCES FINANCING G2 Resources Inc. intends to offer for sale on a private-placement basis CDE (Canadian development expense) flow-through units and equity units for total gross proceeds of a minimum of $5-million and a maximum of $8-million, provided that the total gross proceeds of the CDE flow-through units will not exceed $2-million. The private placement will be offered on a best-efforts agency basis by Quest Securities Corp. The CDE flow-through units will be offered at a price of 58 cents per unit and the equity units will be offered at a price of 55 cents per unit. The CDE flow-through units consist of one Class A common share of G2 issued on a flow-through basis and one-half of one warrant. The equity units consist of one Class A common share of G2 and one whole warrant. Each whole warrant will entitle the holder to acquire one Class A common share of G2 at a price of 80 cents per share for 24 months unless the expiry date is: accelerated by the Class A common shares trading at or above $1.20 for a specified period; or extended by 12 months if the Class A common shares are conditionally approved for listing on either the Toronto Stock Exchange or Tier 1 of the TSX Venture Exchange prior to the expiry of the initial 24-month period following closing. G2 intends to use the proceeds of the flow-through financing for its capital expenditure program, and the proceeds of the common equity financing for general working capital, including the repayment of debt. Subject to receipt of regulatory approvals, closing is expected to occur on or about Feb. 28, 2007. © 2007 Canjex Publishing Ltd.