Frankfurt Stock Exchange Symbol: T2U
US Clearing Symbol: TTMRF
Issued and Outstanding: 46,329,989
VANCOUVER, Dec. 3 /CNW/ - TTM Resources Inc. (TSX-V:TTQ, Frankfurt:T2U)
TTM Resources Inc. ("TTM" or the "Company") is pleased to announce the closing of its recently announced non-brokered private placement. The Company issued an aggregate of 3,000,000 flow-through units at a price of $0.40 per unit for gross proceeds of $1,200,000. Each flow-through unit consists of one flow-through common share and one share purchase warrant which entitles the holder to purchase an additional non flow-through common share of the Company at a price of $0.50 until December 3, 2011. The shares, warrants and warrant shares are subject to a four month hold period.
The Company paid finder's fees in the amount of $10,000 in connection with the private placement.
The proceeds of the private placement will be used to fund the Company's resource exploration on the Chu Molybdenum Development Project. Diamond Drilling on the Company's Chu Project is now in progress.
Annual General Meeting
The Company is also pleased to announce that its shareholders approved all matters presented at the Annual General Meeting held on December 1, 2009.
TTM's shareholders re-elected Crichy Clarke, Terry Lyons, Richard Jordens, David McMillan, Robert Sibthorpe and Warren Robb to the Board of Directors. Each shall serve as a Director of the Company until the 2010 Annual General Meeting.
Shareholders of the Company also re-appointed Smythe Ratcliffe, Chartered Accountants as auditors for the ensuing year and approved the adoption of the 2009 20% Stock Option Plan, the particulars of which are set out in more detail in the Company's Management Information Circular dated October 20, 2009.
About TTM Resources Inc.
TTM Resources Inc. is a Vancouver, British Columbia based Molybdenum Development and Exploration Company focused on the resource development of the Chu Molybdenum Project and three other molybdenum properties in British Columbia, Canada.
TTM RESOURCES INC.
W.K. Crichy Clarke
President & CEO
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS AND INFORMATION
This news release contains certain "forward-looking information" within the meaning of Canadian securities laws. Actual results may differ materially from those indicated by such forward-looking information. All information included herein, other than statements of historical fact, including, without limitation, information regarding future production, is considered forward-looking information and involves various risks and uncertainties. There can be no assurance that the forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
For further information: For further information: visit the Company's web site at www.ttmresources.ca, or contact: Crichy Clarke or Tom Brady, TTM Resources Inc., Phone: (604) 685-1144, Toll Free: 1-877-685-1144, Email: firstname.lastname@example.org