Donner Metals Ltd.: $440,000 Non-Brokered Private Placement Closes
15.11.2011 | Marketwire
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICESVANCOUVER, BRITISH COLUMBIA -- (Marketwire - Nov. 15, 2011) - Mr. David Patterson, Chairman of Donner Metals Ltd. (TSX VENTURE: DON) (FRANKFURT: D4M) ("the "Company") announces the closing of the non-brokered private placement previously announced by news release dated October 25, 2011. The funds were raised through the issuance of 2,000,000 flow-through ("FT") Shares at a price of C$0.22 per FT Share for gross proceeds to the Company of C$440,000. The FT Shares issued in the non-brokered private placement are subject to a hold period expiring March 11, 2012.
As previously announced by news release dated November 9, 2011, the Company closed a concurrent brokered private placement financing led by Haywood Securities Inc., with funds 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 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 (ast 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