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TSX-V: TTQ Frankfurt Stock Exchange Symbol: T2U US Clearing Symbol: TTMRF Issued and Outstanding: 60,437,513
Jan. 7, 2013 /CNW/ - TTM Resources Inc. ("TTM" or the "Company") is pleased to announce a non-brokered private placement (the "Private Placement") pursuant to which TTM proposes to issue up to 10 million units at a price of
$0.05 per unit for gross proceeds of up to
$500,000. The Private Placement is subject to the approval of the TSX Venture Exchange.
Each unit under the Private Placement will consist of one common share of the Company and one transferable common share purchase warrant. Each common share purchase warrant will entitle the holder to purchase one additional common share of the Company at an exercise price of
$0.10 for 24 months following the closing of the Private Placement.
The Company may pay a finder's fee or commission on a portion of the Private Placement.
The proceeds of the Private Placement will be used primarily to fund geotechnical drilling on, and further exploration of, the Company's 100% owned Chu Molybdenum Project, located 85 kilometres south of
Vanderhoof, B.C.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" W.K. Crichy Clarke President, CEO & Director
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. 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.