By Devika Patel
Knoxville, Tenn., Oct. 20 - Donner Metals Ltd. said it intends to raise C$3.1 million in a private placement of units.
The company will sell 5 million units at C$0.22 apiece. Each unit consists of one common share and one half-share warrant.
The company also will sell 8 million flow-through units at C$0.25 apiece. Each flow-through unit consists of one flow-through common share and one half-share warrant.
Each whole warrant will be exercisable at C$0.35 for one year.
Industrial Alliance Securities Inc. is the agent for the flow-through units. The non flow-through units will be sold on a non-brokered basis.
Proceeds will be used for exploration of the Matagami Zinc/Copper Project and for general working capital purposes.
Based in Vancouver, B.C., Donner is a mineral exploration company.
| Issuer: | Donner Metals Ltd.
|
| Issue: | Units of one common share and one half-share warrant, flow-through units of one flow-through common share and one half-share warrant
|
| Amount: | C$3.1 million
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.35
|
| Pricing date: | Oct. 20
|
| Stock symbol: | TSX Venture: DON
|
| Stock price: | C$0.205 at close Oct. 19
|
| Market capitalization: | C$14.1 million
|
|
|
| Units
|
| Amount: | C$1.1 million
|
| Units: | 5 million
|
| Price: | C$0.22
|
| Agent: | Non-brokered
|
|
|
| Flow-through units
|
| Amount: | C$2 million
|
| Units: | 8 million
|
| Price: | C$0.25
|
| Agent: | Industrial Alliance Securities Inc.
|
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