Vancouver, B.C. December 21, 2005 -- Titan Uranium Inc. (TSX Venture: TUE) is pleased to announce the completion of a non-brokered private placement of 200,000 flow-through common shares, at a price of $1.50 per share to raise total gross proceeds of $300,000, which was previously announced on December 19, 2005.
The financing was purchased by one strategic investor being a Saskatchewan based flow-through resource investment fund.
Chad Wasilenkoff, CEO, states "This financing exposes Titan to a very specific investor group and will act as an opportunity to expand shareholder interest in the province where the majority of our projects are located".
The financing proceeds will be used for exploration and development work on the company's mineral properties and general working capital. The private placement is subject to regulatory approval.
A finder's fee equal to 5% of the gross proceeds has been paid to Canaccord Capital Corp. in connection with this private placement.
ON BEHALF OF TITAN URANIUM INC.
"Chadwick Wasilenkoff", Chief Executive Officer
For further information contact: Arni Johannson
Second Floor, 157 Chadwick Court, North Vancouver, British Columbia
Canada V7M 3K2
Telephone: (604) 988-4824
Facsimile: (604) 988-5327
www.titanuranium.com
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Forward-Looking Statements:
Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors identified in Titan's periodic filings with Canadian Securities Regulators. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Titan does not assume the obligation to update any forward-looking statement. |
