Donner Metals Ltd.: $2,000,000 Brokered Private Placement Closes
09.11.2011 | Marketwire
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICESVANCOUVER, BRITISH COLUMBIA -- (Marketwire - Nov. 9, 2011) - Mr. David Patterson, Chairman of Donner Metals Ltd. (TSX VENTURE: DON) (FRANKFURT: D4M) (“the “Company“), is pleased to announce the closing of the brokered private placement financing led by Haywood Securities Inc., previously announced by news release dated October 25, 2011. The funds were raised through the issuance of 9,090,910 flow-through (“FT“) common shares at a price of $0.22 per FT share, for gross proceeds to the Company of C$2,000,000. The FT shares issued in connection with the private placement are subject to a hold period expiring March 10, 2012.
In connection with the private placement, the Company has paid a commission in the amount of $140,000.
As previously announced, the Company also intends to complete a concurrent non-brokered private placement of 2,000,000 FT Shares at a price of C$0.22 per FT Share for gross proceeds to the Company of C$440,000, which is expected to close shortly.
The proceeds from the private placements will be used for the advancement of the Matagami Zinc/Copper Project, located in Québec.
Donner Metals Ltd.
Donner Metals Ltd. is a Canadian development and exploration company focused on base and precious metal projects in Québec. Donner's flagship project is a partnership with Xstrata Canada Corporation in the Matagami Mining Camp covering both the current development of a new mine and on-going exploration activities. The project is located in the Abitibi region of central Québec and it is supported by Xstrata's existing mine infrastructure, a highly experienced workforce and an operating 2,950 tonne per day mill. As well, the area is serviced by highway, power, airport, railway and town site infrastructure.
ON BEHALF OF THE BOARD OF DONNER METALS LTD.
David Patterson
Chairman
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Contact Information
Donner Metals Ltd.
Andrea Magee
(604) 683-0564 or Toll Free: 1-800-909-8311
(604) 602-9311 (FAX)
donner@bed-rock.com
www.donnermetals.com