Donner Metals Financing Update
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| Posted
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Wed, 04 Nov 2009 17:35:47 GMT |
| Author
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Donner Metals Ltd. |
| Category
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Press Release |
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VANCOUVER, BRITISH COLUMBIA -- 11/04/09 --
Mr. David Patterson, Chairman of Donner Metals Ltd. (TSX VENTURE: DON)(FRANKFURT: D4M), reports that further to the Company's News Release dated October 19, 2009, the Company expects to shortly close private placements totaling $3,209,250, an increase in total gross proceeds of $109,250. These funds will be raised through the issuance of 9,625,000 flow-through units ("FT Unit") at a price of $0.25 per FT Unit, and 3,650,000 non-flow-through units ("NFT Unit") at a price of $0.22 per NFT Unit. Each FT Unit will consist of one flow-through common share and one half of one common share purchase warrant, where each whole warrant entitles the holder to acquire one non-flowthrough common share at a price of $0.35 per share for a period of 12 months. Each NFT Unit will consist of one common share and one half of one common share purchase warrant. Each whole warrant entitles the holder to acquire one common share at a price of $0.35 per share for a period of 12 months.
In addition, holders of $497,665 ($470,000 of principal and $27,665 of accrued interest) of outstanding Company debentures have agreed to exchange their debentures for 2,262,114 NFT Units.
Fees and commissions will be payable in connection with the private placements. The private placements, and the exchange of debentures for NFT Units, are subject to the approval of the TSX Venture Exchange.
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.
Contacts:
Donner Metals Ltd.
David Patterson
Chairman
(604) 683-0564 or Toll Free: 1-800-909-8311
(604) 602-9311 (FAX)
donner@bed-rock.com
www.donnermetals.com
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