| ||April 26, 2011|
Commander Amends Terms of Financing
Commander Resources Ltd. (CMD-TSX Venture) announces a change in the private placement terms reported previously by news release dated April 11, 2011. The term of the warrants attached to the Units will be for two years instead of one year. The Company intends to raise approximately $2,040,000 to finance exploration on the Company's projects in Canada. The financing will consist of a non-brokered private placement of 8,500,000 units (the "Units") priced at $0.24 per Unit. Each Unit will consist of one flow-through common share and one-half non flow-through share purchase warrant. Each whole non flow-through share purchase warrant will entitle the holder to purchase one common share at a price of $0.30 for two years following the closing.
Finder's fees of 6% of the Units sold may be payable in units (the "Finder's Units") or cash on a portion of the financing to finders who assist in the placement, as applicable under regulatory laws. Each Finder's Unit will consist of one common share and one-half share purchase warrant, with each whole share purchase warrant to entitle the holder to purchase one common share at a price of $0.30 for one year following the closing of the private placement. The private placement is subject to regulatory acceptance.
The proceeds from the financing will be used as to approximately $1.5 million for exploration on the Company's Storm Copper Project in Nunavut and the balance on the Company's Olympic property, Yukon and Sabin property, Ontario.
On behalf of the Board of Directors,
President & CEO
For further information, please call:
Investor Relations: Cathy DiVito, Investor Relations
Toll Free: 1-800-667-7866
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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