November 15, 2011 Donner Metals Ltd.: $440,000 Non-Brokered Private Placement Closes VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 15, 2011) -
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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 Quebec.
Donner Metals Ltd.