Vancouver, BC - Consolidated Abaddon Resources Inc. (TSX-V: ABN) (FWB: E2L) announces that, further to its news release dated November 9, 2010, it has closed its non-brokered flow-through private placement and issued 5,000,000 flow-through units at a price of $0.10 per unit to raise gross proceeds of up to $500,000. Each flow-through unit consists of one flow-though common share and one non-transferable share purchase warrant which entitles the holder to purchase one additional flow-through common share of the Company at a price of $0.12 per share until December 9, 2013.
The common shares comprising the units and any shares acquired on exercise of the warrants forming part of the units will be subject to a four month restriction on re-sale expiring on April 10, 2011.
Consolidated Abaddon is a Canadian exploration company involved with the development of uranium and lithium properties in the Athabasca Basin of northern Saskatchewan, and in northwestern Ontario.
For further information on Consolidated Abaddon Resources Inc. (TSX-V: ABN), visit our Company's web site at www.consolidatedabaddon.com.
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
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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