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| | December 15, 2003
Closing of Non-Brokered Private Placement Financing
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| | Commander Resources Ltd.. (CMD-TSX Venture)reports closing of the private placement announced November 12, 2003.
An initial closing of 1,865,000 units at $0.55 per unit occurred on December 3, 2003. Each unit consists of one flow-through common share and one non-transferable share purchase warrant entitling the holder to purchase one common share at a price of $0.70 per common share to December 2, 2004. The securities issued on December 3, 2003 are subject to a hold period and may not be traded until April 3, 2004.
A second closing of 1,635,000 units at $0.55 per unit occurred on December 11, 2003. Each unit consists of one flow-through common share and one non-transferable share purchase warrant entitling the holder to purchase one common share at a price of $0.70 per common share to December 10, 2004. The securities issued on December 11, 2003 are subject to a hold period and may not be traded until April 11, 2004.
Finder's fees and finder's options in connection with the financing were paid as follows: Dundee Securities received cash of $19,250 and an option to purchase 50,000 common shares at $0.70 per share for one year following closing; Odlum Brown received cash of $10,780 and an option to purchase 28,000 common shares at $0.70 per share for one year following closing; Canaccord Capital Corporation received cash of $3,850 together with 23,800 units and an option to purchase 44,000 common shares at $0.70 for one year following closing; Haywood Securities Inc. received cash of $22,022 together with 12,600 units and an option to purchase 75,200 common shares at $0.70 per share for one year following closing; Strand Securities Corporation received 42,000 units plus 7,000 shares; Nancy Curry received cash of $3,850 and Peter Krag-Hansen received cash of $11,473.
The units have a forced warrant conversion following the hold period if the shares close at $0.90 or higher for 10 consecutive days.
William J. Coulter
President
For more information, please contact:
Commander Resources Ltd.
1550-409 Granville Street
Vancouver, B.C. V6C 1T2
Tel. (604) 685-5254 Fax (604) 685-2814
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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