VANCOUVER, BRITISH COLUMBIA, March 15 /CNW/ - Capella Resources Ltd.
(TSX-V:CPS) ("CAPELLA" or the "Company") further to the Company's news release
of February 20, 2007, Capella is pleased to announce that it has signed an
agreement to enter into a business combination with Tripple Uranium Resources
("Tripple Uranium"), a privately-held mineral exploration company primarily
engaged in the exploration of uranium prospects with assets in eastern Canada.
Pursuant to the agreement, Capella will issue 1 share of Capella for each
1.5 outstanding common shares of Tripple Uranium outstanding on the closing
date of the transaction. The foregoing transaction is subject to all requisite
regulatory approvals and approval of the shareholders of Capella and Tripple
Uranium as may be required. Closing is expected to occur on or before May 30,
Tripple Uranium Resources currently holds approximately 19,000 mineral
claims located in Labrador, Newfoundland, Nova Scotia and New Brunswick. These
claims represent approximately 1.1 million acres of land or approximately 1720
R.A. Bruce McDonald, Chairman of the Board of Capella stated, "These
claims and the transaction with Tripple represent a significant step forward
in the development of the Company and the package of exploration projects that
it currently has. The management of Tripple Uranium and their experience in
Eastern Canada will be an asset to the ongoing operations of the Company."
Further details of the proposed acquisition will be made available upon
completion of the definitive agreement.
Per: R.A. "Bruce McDonald"
R.A. Bruce McDonald, Chairman of the Board
Not for distribution to the United States newswire services or for
dissemination in the United States.
This press release does not constitute an offer to sell or a solicitation
of an offer to buy any of the securities in the United States. The securities
have not been and will not be registered under the United States Securities
Act of 1933, as amended (the "U.S. Securities Act") or any state securities
laws and may not be offered or sold within the United States or to U.S.
Persons unless registered under the U.S. Securities Act and applicable state
securities laws or an exemption from such registration is available.
"The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release."
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