Commander Announces Private Placement Financing
Vancouver, British Columbia – April 11, 2011 –
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES
Commander Resources Ltd. (TSX VENTURE:CMD) announces it intends to raise approximately $2,040,000 to finance exploration on the Company’s projects in Canada. The financing will consist of a non-brokered private placement of 8,500,000 units (the “Units”) priced at $0.24 per Unit. Each Unit will consist of one flow-through common share and one-half non flow-through share purchase warrant. Each whole non flow-through share purchase warrant will entitle the holder to purchase one common share at a price of $0.30 for one year following the closing.Finder’s fees of 6% of the Units sold may be payable in units (the “Finder’s Units”) or cash on a portion of the financing to finders who assist in the placement, as applicable under regulatory laws. Each Finder’s Unit will consist of one common share and one-half share purchase warrant, with each whole share purchase warrant to entitle the holder to purchase one common share at a price of $0.30 for one year following the closing of the private placement. The private placement is subject to regulatory acceptance.
The proceeds from the financing will be used as to approximately $1.5 million for exploration on the Company’s Storm Copper Project in Nunavut and the balance on the Company’s Olympic property, Yukon and Sabin property, Ontario.
On behalf of the Board of Directors,
Eric Norton, President & CEO
Shares Issued: 90,942,516
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
For more information, please contact
Toll Free: 1-866-782-6032