Vancouver, BC - Consolidated Abaddon Resources Inc. (TSX.V: ABN) (FWB: E2L) announces it has arranged a non-brokered private placement of up to 1,250,000 units at a price of $0.50 per unit. Each unit consists of one share and one non-transferable share purchase warrant. Each warrant entitles the holder thereof to purchase an addition common share of the Company at a price of $0.63 for a period of two years.
If applicable, the Company will pay a finder's fee in cash or units equal to 5% of the private placement offering. The finder's units will be on the same terms as the subscriber's units.
The Private Placement is subject to TSX Venture Exchange acceptance. The Company intends to utilize the proceeds from the Private Placement for general working capital purposes.
Consolidated Abaddon Resources Inc. is a Canadian uranium exploration company actively involved with the development of uranium properties in the ATHABASCA BASIN of northern Saskatchewan and the SIMS BASIN of western Labrador. Property partners include Denison Mines Corp. and Triex Minerals Corp.
ON BEHALF OF THE BOARD OF DIRECTORS
DONALD G. MYERS
For further information contact:
Consolidated Abaddon Resources Inc.
Toll Free: 800-567-8181
THE TSX VENTURE EXCHANGE AND FRANKFURT STOCK EXCHANGE HAVE NOT REVIEWED AND DO NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
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