VAL-D'OR, QUEBEC--(CCNMatthews - Nov. 16, 2006) - Metanor Resources Inc. (TSX VENTURE:MTO) "Metanor" announces that it has proceeded to day with a first closing of a private placement of 580,000 units at a price of $0.50 per unit for a total amount of $290,000 with Canadians, Americans and Europeans investors. Each unit comprises one common share and a half warrant. Each whole warrant entitles its holder to subscribe one common share of Metanor at a price of $0.55 per share within a period of 24 months from the date of issuance. This second closing increase to 4,709,079 the number of units subscribed under this private placement for a total amount of $2,354,539.50.
The common shares and the warrants as well as the common shares underlying warrants are subject to a resale restriction for a period of four months and one day following the closing date.
24,589,708 outstanding shares
FOR FURTHER INFORMATION PLEASE CONTACT:
Metanor Resources Inc.
Serge Roy, President and CEO
Cell. : 819-856-8435