RAB Special Situations L.P.

Acadian Gold Corporation

Acadian Gold Corporation

January 07, 2005 12:03 ET

RAB SPECIAL SITUATIONS L.P./Acadian Gold Corporation: Announcement


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: RAB SPECIAL SITUATIONS L.P.

AND ACADIAN GOLD CORPORATION

TSX VENTURE SYMBOL: ADA

JANUARY 7, 2005 - 12:03 ET

RAB SPECIAL SITUATIONS L.P./Acadian Gold Corporation:
Announcement

LONDON, UNITED KINGDOM--(CCNMatthews - Jan. 7, 2005) - RAB Special
Situations L.P. ("Special Situations") announces that it has subscribed
for a total of 2,500,000 units (the "Equity Units") of Acadian Gold
Corporation (the "Company")(TSX VENTURE:ADA) at a price of Cdn.$0.18 per
Equity Unit. Each Equity Unit consists of one (1) common share in the
share capital of the Company (a "Share") and one-half (1/2) of one (1)
Share purchase warrant (a "Warrant"). Each one (1) whole Warrant shall
entitle Special Situations to purchase one (1) Share at a price of
Cdn.$0.27 per Share for a period which is eighteen (18) months from the
day of closing. The transaction took place off the market by way of
private placement and closed on December 22, 2004.

Special Situations has ownership of and control over the securities
purchased in the Private Placement. The purchased securities represent
approximately 7.33% of the issued and outstanding Shares on a partially
diluted basis (assuming exercise of its Warrants) ("Partially Diluted
Basis").

Immediately after the Private Placement, Special Situations owned
5,000,000 Shares and 3,750,000 Warrants representing approximately
16.31% of the issued and outstanding Shares on a Partially Diluted Basis.

Special Situations purchased Equity Units for investment purposes only
and not with the purpose of influencing the control or direction of the
Company. Special Situations together with joint actors, if any, may,
subject to market conditions, make additional investments in or
dispositions of securities of the Company in the future, including
additional purchases of Shares. Special Situations and its joint actors,
if any, do not, however, intend to acquire 20% of any class of the
outstanding voting or equity securities of the Company.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    RAB Special Situations L.P.
    Mr. Neil Warrender
    (44) 20-7389-7000
    nw@rabcap.com
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.