 |
| | |
| | November 12, 2003
Flow-Through Financing
|
| | Commander Resources Ltd. (CMD-TSX Venture) has arranged a non-brokered private placement of up to 3,500,000 units at a price of $0.55 per unit. Each unit will consist of one flow-through common share and one non-transferable share purchase warrant. Each warrant will entitle the holder to acquire one additional non flow-through common share at a price of $0.70 per common share for a period of one year from closing of the private placement. The units will have a forced warrant conversion if shares close $0.90 or higher for 10 consecutive days.
Finders' fees of 7% of the gross proceeds may be payable in cash or units on a portion of this placement. In addition, finders' options of up to 10% of the total units sold may be issued. Each finder's option will be exercisable into one non flow-through common share at an exercise price of $0.70 per common share for one year. The finders' options will have a forced warrant conversion if shares close $0.90 or higher for 10 consecutive days.
The proceeds from the financing will be used for exploration expenses on Baffin Island, Nunavut.
This financing is subject to acceptance by the TSX Venture Exchange.
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. |
| |
| | You can view the Next News Releases item: Mon Dec 15, 2003, Closing of Non-Brokered Private Placement Financing
You can view the Previous News Releases item: Mon Nov 3, 2003, New Gold Camp Developing On Baffin Island
You can return to the main News Releases page, or press the Back button on your browser.
|
|
