Commander to raise $1.15-million privatelyHi everyone,
Commander to raise $1.15-million privately
2007-10-04 18:59 ET - News Release
Mr. Kenneth Leigh reports
COMMANDER TO RAISE $1,150,000 IN NON-BROKERED PRIVATE PLACEMENT
Commander Resources Ltd. intends to raise approximately $1.15-million to finance exploration at its projects in Canada and for general working capital. The capital raise will consist of a non-brokered private placement of flow-through shares and non-flow-through units.
The flow-through shares will comprise up to four million common shares at 25 cents per share.
The non-flow-through units will comprise up to 750,000 units at 20 cents per unit. Each unit will consist of one common share and one-half share purchase warrant. Each whole share purchase warrant will entitle the holder to purchase one common share at a price of 40 cents for one year following the closing.
Finders' fees of 7 per cent of the flow-through shares and units sold may be payable in shares or cash on a portion of the financing to finders who assist in the placement, as applicable under regulatory laws. The private placement is subject to regulatory approval.
Proceeds of the flow-through shares will be used for eligible exploration expenditures on the company's Hermitage uranium project, Labrador nickel project and Baffin gold project.
GLTA,
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