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Vancouver, British Columbia--(Newsfile Corp. - September 20, 2021) - Commander Resources Ltd. (TSXV: CMD) ("Commander") reports that it has closed Tranche 2 of the non-brokered private placement announced on August 5, 2021 (the "Offering"). In the second tranche, 800,000 units at a price of $0.17 per unit (the "Units") have been issued for proceeds of $136,000. Total gross proceeds from the financing was $662,539.97. Total Units issued was 2,202,235 and total flow-through shares (the "FT Shares") was 1,600,889 FT Shares.
Each Unit consists of one common share and one-half of one share purchase warrant (the "Unit Warrants"), with each whole Unit Warrant entitling the holder to purchase one additional common share at a price of $0.25 until March 9, 2023 (Tranche 1) and March 20, 2023 (Tranche 2).
The gross proceeds from the Offering will be used to advance exploration on the Company's current projects and for general corporate purposes.
Insiders of Commander participated as follows: Robert Cameron 150,000 Units; Brandon Macdonald 40,000 Units; Eric Norton 110,000 Units.
Finder's fees were paid as follows: $15,000 to Dundee Goodman Merchant Partners; $2,130 to German Mining Networks GmbH; $1,020 to Sprott Capital Partners LP; and $300 to Stephen Avenue Securities Inc.
Common shares issued in connection with this private placement and issuable upon exercise of Unit Warrants are subject to a four-month restricted resale period until January 10, 2022 (Tranche 1) and January 21, 2022 (Tranche 2).
The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws, or an exemption from such registration requirement is available.
The completion of the private placement is subject to regulatory approval, including approval of the TSX Venture Exchange.
About Commander Resources:
Commander Resources is a Canadian focused exploration company that has leveraged its success in exploration through partnerships and sale of properties, while retaining equity and royalty interests. Commander has a portfolio of base and precious metal projects across Canada. Commander also retains royalties from properties that have been partnered, optioned or sold.
On behalf of the Board of Directors
Robert Cameron, P. Geo.
President and CEO
For further information, please call:
Neither 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 release.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
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