Linear Metals Corporation

Linear Metals Corporation

November 14, 2006 10:46 ET

Linear Metals Corporation: Completion of Private Placement

HALIFAX, NOVA SCOTIA--(CCNMatthews - Nov. 14, 2006) - Linear Metals Corporation (TSX VENTURE:LRM) is pleased to announce that it has closed its previously announced non-brokered private placement of 3,500,000 units at a price of $0.75 per unit, for gross proceeds of $2,625,000. Finders' fees totaling $157,500 comprised of $64,575 cash and 123,900 units, issued at a deemed price of $0.75 per unit, have been paid in respect of the offering. Each unit consists of one common share and one-half warrant, and each whole warrant entitles the holder to purchase an additional common share at a price of $1.00 per share until November 10, 2008. The units are subject to a hold period expiring March 11, 2007.

Linear Metals Corporation is actively exploring for base metals and high-grade silver deposits in Mexico and Canada.

Brian MacEachen, Vice-President & Chief Financial Officer

The language used in this News Release may contain forward-looking statements that may involve a number of known and unknown risks and uncertainties. Actual events or results could differ materially from the Company's forward-looking statements and expectations.

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

Contact Information

  • Linear Metals Corporation
    Terry Christopher
    Manager Investor Relations
    (902) 422-1421