RAB Special Situations L.P.

Consolidated Global Minerals Ltd.

Consolidated Global Minerals Ltd.

January 12, 2005 13:24 ET

RAB Special Situations L.P./Consolidated Global Minerals Ltd. - Announcement


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: RAB SPECIAL SITUATIONS L.P.

AND CONSOLIDATED GLOBAL MINERALS LTD.

TSX VENTURE SYMBOL: CTG

JANUARY 12, 2005 - 13:24 ET

RAB Special Situations L.P./Consolidated Global
Minerals Ltd. - Announcement

LONDON, UNITED KINGDOM--(CCNMatthews - Jan. 12, 2005) - RAB Special
Situations L.P.("Special Situations") announces that it has subscribed
for a total of 4,500,000 units (the "Units") of Consolidated Global
Minerals Ltd. (TSX VENTURE:CTG)(the "Company") at a price of Cdn.$0.40
per Unit. Each Unit consists of one (1) common share in the share
capital of the Company (a "Share") and one (1) Series E Share purchase
warrant (a "Warrant"). Each Warrant shall entitle Special Situations to
purchase one (1) Share (a "Warrant Share") at a price of Cdn.$0.60 per
Share for a period of two (2) years from Closing. The transaction took
place off the market by way of private placement and closed on December
23, 2004.

Special Situations has ownership of and control over the securities
purchased in the Private Placement. The purchased securities represent
approximately 18.81% 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
7,500,000 Shares and 7,500,000 Warrants representing approximately
29.50% of the issued and outstanding Shares on a Partially Diluted Basis.

Special Situations purchased 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.