Metanor Resource Inc. (MTO.V) Producing Gold Mine and Mill Message Board

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Gold/Mining/Energy : Metanor Resource Inc. (MTO.V) Producing Gold Mine and Mill

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From: Ted L. Nancy	4/20/2009 3:45:39 PM
	of 35

Metanor completes second closing for $1.24-million 2009-04-20 08:21 AT - News Release Mr. Serge Roy reports METANOR: SECOND CLOSING OF A PRIVATE PLACEMENT OF $1,247,500 Metanor Resources Inc. has completed the second closing of its previously announced private placement further to the exercise of the overallotment option granted to the agents (as defined below) by the company, with the sale and issuance of an additional total of 2,495,000 units at the price of 50 cents per unit for additional gross proceeds to Metanor of $1,247,500. Each unit comprises one common share and one-half of one common share purchase warrant. Each whole common share purchase warrant entitles its holder to purchase one additional common share at an exercise price of 65 cents per share on or before April 20, 2011. This offering was completed through a syndicate of agents led by Northern Securities Inc. and which included Raymond James Ltd. The agents received a cash commission of 6 per cent of the gross proceeds of the offering as well as broker warrants allowing its holder to purchase a number of units equal to 6 per cent of the number of units sold pursuant to the offering. Each broker warrant entitles its holder to purchase one unit, at a price of 50 cents per unit, at any time on or before April 20, 2011. The securities issued pursuant to this offering are subject to resale restrictions, in accordance with applicable securities legislation, which expire on Aug. 21, 2009. The net proceeds from the offering will be used to finance a work program for the rehabilitation and improvement of the surface infrastructure of the Bachelor mine in order to give access to underground resources of the Bachelor mine and the Hewfran property.

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