By Devika Patel
Knoxville, Tenn., Dec. 7 - Donner Metals Ltd. announced that it plans to raise C$2 million in a private placement of units.
The company will sell 3,076,923 flow-through units at C$0.65 apiece. Each unit will consist of one flow-through common share and one half-share warrant, with each whole warrant exercisable at C$0.90 for two years.
The warrants may expire sooner if the company's common shares close higher than C$1.30 for 20 consecutive trading days. In that case, the warrants will expire on the 30th day after the company notifies holders.
Proceeds will be used for exploration and general working capital.
Based in Vancouver, B.C., Donner is a mineral exploration company.
| Issuer: | Donner Metals Ltd.
|
| Issue: | Units of one flow-through common share and one half-share warrant
|
| Amount: | C$2 million
|
| Units: | 3,076,923
|
| Price: | C$0.65
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.90
|
| Pricing date: | Dec. 7
|
| Stock symbol: | TSX Venture: DON
|
| Stock price: | C$0.51 at close Dec. 7
|
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