Columbia Metals Corporation Limited

Columbia Metals Corporation Limited

March 02, 2005 15:03 ET

Columbia Announces Amendment to the Previously Announced Non-Brokered Private Placement


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: COLUMBIA METALS CORPORATION LIMITED

TSX VENTURE SYMBOL: COL

MARCH 2, 2005 - 15:03 ET

Columbia Announces Amendment to the Previously
Announced Non-Brokered Private Placement

TORONTO, ONTARIO--(CCNMatthews - March 2, 2005) - Columbia Metals
Corporation (TSX VENTURE:COL) (the "Company") is also pleased to
announce that due to increased interest in its previously announced
non-brokered private placement, the Company is increasing its offering
from 1,500,000 units to 2,600,000 units at a price of $0.35 per unit for
gross proceeds of $910,000. All other terms and conditions remain the
same as previously announced. Each unit consists of one common share and
one common share purchase warrant. Each warrant is exercisable for a
period of one (1) year from the date of issuance at an exercise price of
$0.45 per common share. Notwithstanding the one (1) year exercise
period, a mandatory exercise of the warrants will occur should the
common shares of the Company trade at or over $0.60 for twenty (20)
consecutive trading days.

Shares Outstanding: 33,432,077

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Columbia Metals Corporation Limited
    Chris Berlet
    (416) 364-6799
    (416) 364-2595 (FAX)
    www.columbiametals.ca
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.