Cogitore Resources Inc. Announces Private Placement Financing



    TORONTO, March 29 /CNW/ - Cogitore Resources Inc. (the "Company") (WOO,
TSX-V) is pleased to announce that it expects to raise up to $2.525 million by
way of a partially brokered, partially non-brokered private placement of
Flow-Through Units and Units, subject to regulatory approval. Up to $2 million
of the placement will be raised through the issuance of Flow-Through Units,
and up to $525,000 will be raised through the issuance of Units. The
Flow-Through Units will be priced at $0.80 and the Units will be priced at
$0.70. Each Flow-Through Unit will consist of one Flow-Through Common Share
and one half Common Share Purchase Warrant. Each whole Common Share Purchase
Warrant that is part of the Flow-Through Unit will entitle the holder to
purchase one additional Common Share at a price of $1.05 for a period of two
years after the closing of the private placement. Each Unit will consist of
one Common Share and one half Common Share Purchase Warrant. Each whole Common
Share Purchase Warrant that is part of the Unit will entitle the holder to
purchase one additional Common Share at a price of $0.90 for a period of two
years after the closing of the private placement. The sale of $1 million of
the Flow-Through Units will be brokered by Northern Securities Inc. Northern
Securities Inc. will receive a 6% commission and Broker Warrants equal to 10%
of the number of Flow-Through Units sold pursuant to its portion of the
private placement. The Broker Warrants will be exercisable into Units at the
issue price at any time prior to the date that is 24 months from the closing
date of the private placement, and the exercise price of the whole Common
Share Purchase Warrant will be $1.05. The remainder of the financing will be
non-brokered. Although the remainder of the placement is proposed to be
non-brokered, the Company will protect offers received from registered
investment dealers when accepted by the Company and in such case the Company
will pay a cash commission of 6% of the purchase price of such Units and
Flow-Through Units. The Common Shares issued at closing and issued upon the
exercise of the Common Share Purchase Warrants will have a hold period of four
months from the closing date of the private placement. Closing is expected to
occur on or about April 17, 2007.
    The proceeds of the-flow through portion of the financing will be used to
fund the Company's 2007 exploration program, while the non-flow through
portion of the financing will be used to fund the 2007 exploration program and
for general corporate purposes.
    The Company focuses on base metal exploration in accessible areas of
Quebec, Ontario, and Newfoundland.

    On Behalf of the Board of Directors
    Mark Goodman
    Chairman of the Board
    Telephone: 416-924-9893

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    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.
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    %SEDAR: 00020132E




For further information:

For further information: Mark Goodman, Chairman of the Board, Telephone:
(416) 924-9893

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COGITORE RESOURCES INC.

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