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| | November 17, 2004
Private Placement Financing
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| | Commander Resources Ltd. (CMD-TSX Venture) is arranging a non-brokered private placement to raise up to $1,325,000. The private placement will comprise up to 1,500,000 flow-through common shares at $0.35 per flow-through share and up to 2,500,000 non flow-through Units at $0.32 per Unit, each Unit consisting of one common share and one non-transferable share purchase warrant. Each warrant is exercisable into one common share for two years from the date of completion at a price of $0.45 per common share during the first year and at $0.50 per common share during the second year.
Finders' fees of 6% of the gross proceeds may be payable in cash or Units on a portion of this placement.
Proceeds from the financing will be used primarily to fund exploration on the Baffin Island Project, Nunavut and the Big Hill Property, Newfoundland as well as general working capital.
This financing is subject to acceptance by the TSX Venture Exchange.
About Commander Resources Ltd.
Commander Resources Ltd. is a Canadian junior exploration company with a diversified portfolio of gold, copper-gold and nickel projects across Canada with focus on a large, emerging new gold camp on Baffin Island and advanced nickel projects in Labrador. The Company holds 1.72 million shares of Diamonds North Resources Ltd.
On behalf of the Board of Directors,
Kenneth Leigh
President
For more information, please call:
Commander Resources Ltd.
Cathy DiVito, Corporate Communications
Tel. (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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