Columbia Metals Corporation Limited

Columbia Metals Corporation Limited

October 25, 2005 17:04 ET

Columbia Metals Corporation Limited Announces Non-Brokered Private Placement

TORONTO, ONTARIO--(CCNMatthews - Oct. 25, 2005) - Columbia Metals Corporation Limited (TSX VENTURE:COL) (the "Company") is pleased to announce that it intends to undertake a non-brokered private placement offering of 663,000 units of Columbia at a price of $0.50 per unit for the gross proceeds of $331,500. Each unit will consist of one common share and one half of one common share purchase warrant. Each whole common share purchase warrant ("Warrant") is exercisable for a period of twenty (24) months from the date of issuance at an exercise price of $0.80 per common share for the first twelve (12) months and $1.00 per common share for the final twelve (12) months.

A finder's fee in connection with this private placement will be paid to Union Securities Ltd. and Crowthorn Capital Corporation.

Proceeds of the placement will be used as general working capital and to develop Columbia's mining properties in Mexico.

Shares Outstanding: 43,645,577

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Columbia Metals Corporation Limited
    Carl Di Placido
    (416) 364-6799
    (416) 364-2595 (FAX)