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Gold/Mining/Energy : Commander Resources Ltd
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To: VAUGHN who wrote (151)11/13/2003 7:10:10 AM
From: kidl  Read Replies (1) of 169
 
Commander to raise $1.92-million for exploration

Commander Resources Ltd (2) CMD
Shares issued 17,953,997 Nov 11 close $0.51
Wed 12 Nov 2003 News Release
Mr. William Coulter reports
SECOND HIGH GRADE GOLD ZONE ON BAFFIN ISLAND
Commander Resources has arranged a non-brokered private placement of up to 3.5 million units at a price of 55 cents per unit. Each unit will consist of one flow-through common share and one non-transferable share purchase warrant. Each warrant will entitle the holder to acquire one additional non-flow-through common share at a price of 70 cents per common share for a period of one year from closing of the private placement. The units will have a forced warrant conversion if shares close 90 cents or higher for 10 consecutive days. Finders' fees of 7 per cent of the gross proceeds may be payable in cash or units on a portion of this placement. In addition, finders' options of up to 10 per cent of the total units sold may be issued. Each finder's option will be exercisable into one non-flow-through common share at an exercise price of 70 cents per common share for one year. The finders' options will have a forced warrant conversion if shares close 90 cents or higher for 10 consecutive days. The proceeds from the financing will be used for exploration expenses on Baffin Island, Nunavut.
(c) Copyright 2003 Canjex Publishing Ltd. stockwatch.com

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