By Sheri Kasprzak
New York, Sept. 23 - Commander Resources Ltd. said it has priced a non-brokered private placement for up to C$1,074,500.
The company plans to sell up to 1.75 million flow-through shares at C$0.35 each and up to 1.4 million units at C$0.33 each.
The units are comprised of one non flow-through share and one half-share warrant. The whole warrants are exercisable at C$0.45 each for one year.
The proceeds will be used for exploration on the Newfoundland uranium properties and the Baffin Island gold project. The rest will be used for working capital.
Based in Vancouver, B.C., Commander is a gold, copper-gold, nickel and uranium exploration company.
| Issuer: | Commander Resources Ltd.
|
| Issue: | Flow-through shares and units of one share and one half-share warrant
|
| Amount: | C$1,074,500 (maximum)
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| Pricing date: | Sept. 22
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| Stock price: | C$0.35 at close Sept. 22
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| Flow-through shares
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| Shares: | 1.75 million (maximum)
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| Price: | C$0.35
|
| Warrants: | No
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|
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| Units
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| Units: | 1.4 million (maximum)
|
| Price: | C$0.33
|
| Warrants: | One-half share warrant per unit
|
| Warrant expiration: | One year
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| Warrant strike price: | C$0.45
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