TTM Resources Inc.

TTM Resources Inc.

March 27, 2007 00:15 ET

TTM Resources Announces $5,100,000 Financing

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 27, 2007) -


W. K. Crichy Clarke, President & CEO of TTM Resources Inc. (TSX VENTURE:TTQ)(FRANKFURT:T2U) (the "Company"), is pleased to announce a private placement with Canaccord Capital Corporation ("Canaccord" or the "Agent") of 5,000,000 Non Flow Through Units (the "Non FT Units") at a price of $0.75 per Non FT Unit and 1,500,000 Flow Through Units (the "FT Units") at a price of $0.90 per FT Unit to raise a total of up to $5,100,000 (the "Offering"). A Non FT Unit will consist of one common share and one-half of one transferable common share purchase warrant (a "Warrant"). A FT Unit will consist of one FT common share and one-half of one transferable common share purchase warrant. Each whole warrant will entitle the holder to subscribe for one additional common share (a "Warrant Share") at a price of $1.00 for a period of one year from the date of closing and at $1.30 for the second year after closing.

As consideration for acting as Agents, Canaccord will be paid a commission of 6% of the total proceeds raised in the Offering upon closing payable in cash and agent's warrants ("Agent's Warrants") equal to 10% of the securities issued pursuant to the Offering. Each Agent's Warrant will be exercisable to acquire one common share for a period of 18 months from the closing at $0.90/share. In addition, the Agent will receive a corporate finance fee paid in cash and in Units.

The Company has also granted the Agent an over allotment option to raise additional gross proceeds of up to $2,000,000 through the issue of Non FT Units and FT Units in any combination and exercisable forty-eight hours prior to closing.

The use of proceeds raised from this issue will be used to fund continued exploration at the company's Chu, Deeker Creek, Molygold and Terrace properties. The flow through funds raised from the issuance of the FT Units will be used for exploration expenditures, which will constitute Canadian exploration expenses (as defined in the Income Tax Act) and will be renounced for the 2007 taxation year.

The Company will keep its shareholders informed of future developments and of the timing of our drill program as more information becomes available.

Completion of the placement is subject to the approval of the TSX Venture Exchange.

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)