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| | October 21, 2005
Partial Closing of Non Brokered Financing
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| | Commander Resources Ltd. (CMD-TSX-Venture) reports the first tranche of the private placement financing announced on September 22, 2005 and amended on October 19, 2005 has closed. This portion of the non-brokered private placement is comprised of 2,283,650 flow-through common shares at $0.35 per flow-through share and 1,089,575 non flow-through Units at $0.33 per Unit, each Unit consisting of one common share and one-half non-transferable share purchase warrant. Each whole warrant is exercisable into one common share to October 20, 2006 at a price of $0.45 per common share. The securities have a hold period and may not be traded until February 21, 2006.
Finder's fees were paid in cash as follows: Research Capital Corporation received $1,470.00 and Neil Adshead received $612.50.
Proceeds from the financing will be used primarily to fund exploration on the Newfoundland Uranium Properties and the Baffin Island Gold Project, Nunavut as well as general working capital.
About Commander Resources Ltd.
Commander Resources Ltd. is a Canadian junior exploration company with a diversified portfolio of gold, copper-gold, nickel and uranium projects across Canada with focus on a large, emerging new gold district on Baffin Island. Commander's mission is to generate or acquire quality opportunities at a low cost and add significant shareholder value through discovery of mineral deposits, leveraged partnerships, and/or sale of assets. The company has exposure to the diamond sector through an equity position in Diamonds North Resources Ltd.
On Behalf of the Board of Directors
Kenneth E. Leigh
President
For further information, please call:
Cathy DiVito, Corporate Communications
Commander Resources Ltd.
Telephone (604) 685-5254 Toll Free Canada/U.S.: 1-800-667-7866
Email: info@commanderresources.com
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release. |
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