Mon Mar 3, 2008 Consolidated Abaddon Announces Non-Brokered Private Placement
Vancouver, BC - Consolidated Abaddon Resources Inc. (TSX-V: ABN) (FWB: E2L) announces that has arranged a non-brokered private placement of up to 1,500,000 units at a price of $0.20 per unit to raise gross proceeds of up to $300,000. Each unit consists of one common share and one non-transferable share purchase warrant, with each warrant to entitle the holder to purchase one common share for a period of two years at a price of $0.22 per share.
The Company will pay a 7.5% finder's fee, payable in units, in connection with this private placement offering.
The Company intends to utilize the proceeds of this private placement for general working capital purposes.
About Consolidated Abaddon Resources Inc.:
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. The Company is also developing a uranium property east of Moab, Utah.
Property partners include Denison Mines Corp., Triex Minerals Corp., and Utah Uranium Corp.
ON BEHALF OF THE BOARD OF DIRECTORS
"James G. Pettit"
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.
This news release contains certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the British Columbia Securities Commission and the United States Securities & Exchange Commission.
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