Cogitore Resources Inc. Completes Brokered Portion of Private Placement



    TORONTO, April 25 /CNW/ - Cogitore Resources Inc. (the "Company")
(WOO, TSX-V) is pleased to announce that on April 25, 2007 the Company
completed the brokered portion of its previously announced private placement
of 2,500,000 Flow-Through Units to raise $2,000,000 and 1,428,572 Units to
raise approximately $1,000,000 for aggregate gross proceeds of approximately
$3,000,000. The Company had previously announced (on April 23, 2007) that it
had raised aggregate gross proceeds of $2,920,402 through the non-brokered
portion of this private placement. Total aggregate gross proceeds for the
private placement totalled approximately $5,920,402.
    As previously announced, the Flow-Through Units were priced at $0.80 per
Flow-Through Unit and the Units were priced at $0.70 per Unit. Each
Flow-Through Unit consists 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 consists 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.
    As previously disclosed, Northern Securities Inc. ("Northern") received a
6% commission totalling approximately $180,000 and Flow-Through Broker
Warrants and Broker Warrants equal to 10% of the number of Flow-Through Units
and Units, respectively, sold pursuant to its portion of the private
placement. The Broker Warrants will be exercisable into Flow-Through Broker
Units and Broker Units, respectively, at the issue price at any time prior to
the date that is 24 months from the closing date of the private placement.
Each Flow-Through Broker Unit and Broker Unit will consist of one common share
and one half of one Common Share Purchase Warrant, the exercise price of each
whole Common Share Purchase Warrant will be $1.05 and $0.90, respectively.
Northern received 250,000 Flow-Through Broker Warrants and 142,857 Broker
Warrants.
    The Common Shares issued at closing are, and the Common Shares issued
upon exercise of the Common Share Purchase Warrants will be subject to resale
restrictions pursuant to applicable securities laws requirements and notably
to a hold period of four months plus one day from the closing date.
    The proceeds of the Flow-Through portion of the financing will be used to
fund the Company's 2007-08 exploration program, while the non-Flow-Through
portion of the financing will be used for the Company's 2007-08 exploration
program and for general corporate purposes.

    The Company now has 30,532,305 common shares issued and outstanding.

    The Company has developed a strategic focus on base metal exploration in
prospective areas that also feature infrastructure favourable for mining
development. Accordingly, it will focus its work in the Abitibi Belt of Quebec
and Ontario, and in the Central Belt of Newfoundland.

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

    -------------------------------------------------------------------------
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.
    -------------------------------------------------------------------------

    %SEDAR: 00020132E




For further information:

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

Organization Profile

COGITORE RESOURCES INC.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890