Matamec Explorations inc.
TSX VENTURE : MAT

Matamec Explorations inc.

January 04, 2007 13:55 ET

Matamec Closes Two Private Placements for $1,000,000 for Gold and Uranium Exploration

MONTREAL, QUEBEC--(CCNMatthews - Jan. 4, 2007) - Matamec Explorations Inc. (TSX VENTURE:MAT) ("Matamec") is pleased to announce the closing on December 29, 2006 of two private placements with the MineralFieds Group ($600,000) and Jones Gable & Company Ltd ($400,000) for gross proceeds of $1,000,000 consisting of a total of 5,000,000 flow-through units at a price of $0.20 per unit. Each flow-through unit consists of one (1) flow-through common share and one half of one (1/2) common share purchase warrant. Each whole warrant entitles the holder thereof to subscribe for one (1) common share at a price of $0.35 for a period of 12 months and at a price of $0.45 for the next 12 months. The funds will be allocated mainly for exploration of its gold and uranium properties

Matamec paid a 5% cash finder's fee to Limited Market Dealer Group ($30,000) and Jones Gable & Company Ltd ($20,000) who have also been granted broker's warrants equal to 10% of the number of units sold under those private placements. Each broker warrant entitles the holder to subscribe for one (1) common share at a price of $0.35 for a period of 12 months and at a price of $0.45 for the next 12 months.

Under applicable securities legislation and policies of the TSX Venture Exchange, all the securities issued under those private placements are subject to a 4 month hold period expiring on April 30, 2007.

About MineralFields and Pathway

MineralFields Group (a division of Pathway Asset Management) is a Toronto-based mining fund with significant assets under administration that offers its tax-advantaged super flow-through limited partnerships to investors throughout Canada during most of the calendar year, as well as hard-dollar resource limited partnerships to investors throughout the world. Pathway Asset Management also specializes in the manufacturing and distribution of structured products and mutual funds. Information about MineralFields Group is available at www.mineralfields.com.

About Matamec

Matamec is a mining exploration company which has a focus on the exploration of properties for gold deposits in the East Timmins mining camp. In particular, it has options to acquire interests in the Matheson and Montclerg properties. Furthermore, it holds a 100% interest in 6 exploration properties in Quebec for gold, uranium, other metals and minerals.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release.

Contact Information

  • Matamec Explorations Inc.
    Andre Gauthier
    President
    514-448-5183
    or
    Matamec Explorations Inc.
    Michael D'Amico
    Investor Relations
    647-500-6023
    info@matamec.com
    www.matamec.com