TTM Resources Inc.

TTM Resources Inc.

April 24, 2007 00:15 ET

TTM Completes $8,250,000 Private Placement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 23, 2007) - TTM Resources Inc. (TSX VENTURE:TTQ)(FRANKFURT:T2U) (the "Company") - W.K. Crichy Clarke, President & CEO, is pleased to announce that further to its news releases dated March 27th, 29th and 30th, 2007, the Company has completed the brokered private placement with Canaccord Capital Corporation and issued an aggregate of 9,200,000 non flow-through units at a price of $0.75 and 1,500,000 flow-through units at a price of $0.90 for aggregate gross proceeds of $8,250,000. Each unit consists of one common share and one-half of a share purchase warrant. Each whole warrant is exercisable for a period of two years at a price of $1.00 per share in year one and $1.30 per share in year two.

All securities issued with respect to the closing of the Private Placement are subject to a hold period expiring August 24, 2007.

Canaccord Capital Corporation ("Canaccord" or the "Agent") acted as lead agent for the Offering. The company paid $50,000 and issued 100,000 non flow-through units to Canaccord for Corporate Finance and fiscal advisory services.

Canaccord was the lead brokerage firm supported by Haywood Securities Inc., Global Securities Corporation, CIBC World Markets, Jones Gable and Co. Ltd., Research Capital Corporation and Wolverton Securities Ltd.

The Company paid a cash commission of 6% to the Agent for all units placed by the Agent and sub-agents, and issued 1,070,000 Broker warrants exercisable at a price of $0.90 for 18 months. The Company will also pay a finder's fee of $15,262.50 in connection with the President's List.

Major placees were Sprott Asset Management for 2,670,000 non flow-through units and Pinetree Resource Partnerships Ltd. for 1,000,000 non flow-through units.

The Company also is pleased to announce that 1,000,000 Broker warrants at a price of $0.30 and 2,499,500 warrants at a price of $0.35 from its IPO have been exercised.

The Company's qualified persons are reviewing laboratory assay results and their detailed analysis will be released to the public later this week.

The above placement is subject to the final approval of the TSX Venture Exchange.

For further information visit the Company's web site at


W.K. Crichy Clarke, President & CEO

This communication to shareholders and the public contains certain forward-looking statements. Actual results may differ materially from those indicated by such statements. All statements, other than statements of historical fact, included herein, including, without limitations statements regarding future production, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

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

Contact Information

  • TTM Resources Inc.
    W.K. Crichy Clarke
    President & CEO
    (604) 685-5851 or Toll Free: 1-888-685-5851
    TTM Resources Inc.
    Tom Brady
    (604) 685-5851 or Toll Free: 1-888-685-5851
    (604) 685-7349 (FAX)
    Small Cap Invest Ltd - Europe
    Alexander Friedrich
    49 (0) 69-24 24 93 49
    49 (0) 12 12 544 71 04 62 (FAX)