Northfield Metals Inc.

November 22, 2006 14:11 ET

Northfield Metals Inc.: Short Extension of Northfield Warrants

TORONTO, ONTARIO--(CCNMatthews - Nov. 22, 2006) - NORTHFIELD METALS INC. ("Northfield" or the "Corporation") announced that board of directors of the Corporation have revised the expiration date of 2,130,143 outstanding share purchase warrants to December 29, 2006. The Corporation is extending the expiration date from November 27, 2006 in acknowledgment that most of the warrant holders reside in Europe and require further time to consider and implement the exercise of their warrants. The full exercise of the Warrants would result in CDN$319,521 in gross proceeds for the Corporation.

As previously announced, Northfield also intends to proceed with a private placement (the "Private Placement") to raise aggregate proceeds of up to CDN$500,000. The proceeds of the Private Placement are to be used for working capital in connection with the previously announced Agreement regarding the Derinkoy Property in Turkey. The Private Placement financing would commence after the warrant exercise expiration date.


Contact Information

  • Northfield Metals Inc.
    Thomas G. Larsen
    Chairman, President and C.E.O.
    (416) 360-8006 or (800) 360-8006
    (416) 361-1333 (FAX)
    or
    Northfield Metals Inc.
    Jorge Estepa
    Vice President and Secretary
    (416) 360-8006 or (800) 360-8006
    (416) 361-1333 (FAX)