Vancouver, BC - Consolidated Abaddon Resources Inc. (TSX-V: ABN) (FWB: E2L) (the "Company") announces that it has issued a total of 5,500,000 units pursuant to a private placement originally announced September 4, 2007 and subsequent news release dated September 12, 2007. Each unit consists of one common share and one share purchase warrant entitling the holder to purchase one additional common share at a price of $0.27 per share if exercised on or before 5:00 P.M. (Pacific Time) on October 16, 2008.
As a finder's fee in connection with the transaction, the Company has issued a further 95,550 units, each consisting of one common share and one share purchase warrant, having the same terms and conditions as the warrants referred to in the foregoing.
The common shares and warrants issued under the placement and as finder's fees, and any shares issued pursuant to the exercise of the share purchase warrants, are subject to a four month hold period under applicable securities laws, and imposed by the TSX Venture Exchange, expiring February 18, 2008.
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, SIMS BASIN of western Labrador, and the ALGOMA DISTRICT of northwestern Ontario.
Property partners include Denison Mines Corp. and Triex Minerals Corp.
ON BEHALF OF THE BOARD OF DIRECTORS
JAMES G. PETTIT
For further information contact myself or:
Consolidated Abaddon Resources Inc.
Toll Free: 800-567-8181
THE TSX VENTURE EXCHANGE AND FRANKFURT STOCK EXCHNAGE HAVE NOT REVIEWED AND DO NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
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