The following statement has been issue by TTM Resources Inc. on April 24th.
TTM Resources Inc. (TSX VENTURE:TTQ)(FRANKFURT:T2U) (the "Company") - W.K. Crichy Clarke, President & CEO, is pleased to announce that further to its news releases dated March 27th, 29th and 30th, 2007, the Company has completed the brokered private placement with Canaccord Capital Corporation and issued an aggregate of 9,200,000 non flow-through units at a price of $0.75 and 1,500,000 flow-through units at a price of $0.90 for aggregate gross proceeds of $8,250,000. Each unit consists of one common share and one-half of a share purchase warrant. Each whole warrant is exercisable for a period of two years at a price of $1.00 per share in year one and $1.30 per share in year two.
All securities issued with respect to the closing of the Private Placement are subject to a hold period expiring August 24, 2007.
Canaccord Capital Corporation ("Canaccord" or the "Agent") acted as lead agent for the Offering. The company paid $50,000 and issued 100,000 non flow-through units to Canaccord for Corporate Finance and fiscal advisory services.
Canaccord was the lead brokerage firm supported by Haywood Securities Inc., Global Securities Corporation, CIBC World Markets, Jones Gable and Co. Ltd., Research Capital Corporation and Wolverton Securities Ltd.
The Company paid a cash commission of 6% to the Agent for all units placed by the Agent and sub-agents, and issued 1,070,000 Broker warrants exercisable at a price of $0.90 for 18 months. The Company will also pay a finder's fee of $15,262.50 in connection with the President's List.
Major placees were Sprott Asset Management for 2,670,000 non flow-through units and Pinetree Resource Partnerships Ltd. for 1,000,000 non flow-through units.
The Company also is pleased to announce that 1,000,000 Broker warrants at a price of $0.30 and 2,499,500 warrants at a price of $0.35 from its IPO have been exercised.
The Company's qualified persons are reviewing laboratory assay results and their detailed analysis will be released to the public later this week.
The above placement is subject to the final approval of the TSX Venture Exchange. -Source: http://www.ccnmatthnews.com
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