TSX-V: TTQ
Frankfurt Stock Exchange Symbol: T2U
US Clearing Symbol: TTMRF
Issued and Outstanding: 60,437,513
TTM Resources Inc. Closes Private Placement
Vancouver, B.C., December 24, 2010 – TTM Resources Inc. (“TTM” or the “Company”) is pleased to announce that it has closed a private placement (the “Private Placement”) pursuant to which TTM issued 682,849 flow-through units (the “FT Units”) at a price of $0.34 per FT Unit and 859,175 non-flow-through units (the “Non FT Units”) at a price of $0.28 per Non FT Unit, for gross proceeds of $472,737.66. Each FT Unit under the Private Placement consists of one flow-through common share and one transferable common share purchase warrant (a “Warrant”). Each Non FT Unit under the Private Placement consists of one non-flow-through common share and one Warrant. Each Warrant entitles the holder to purchase one additional non-flow-through common share of the Company at an exercise price of $0.40 within 24 months of the closing of the Private Placement.
Finders’ fees in the aggregate amount of $11,801 were paid on portion of the Private Placement.
The proceeds of the private placement will be used to fund the Company’s resource exploration on the Chu Molybdenum Development Project and for working capital.
About TTM Resources Inc.
TTM Resources Inc. is a Vancouver, British Columbia based Molybdenum Development and Exploration Company focused on the resource development of the Chu Molybdenum Project and two other molybdenum properties in British Columbia, Canada.
TTM RESOURCES INC.
“Crichy Clarke”
W.K. Crichy Clarke, President, CEO & Director
For further information visit the Company’s web site at www.ttmresources.ca, or contact:
W.K. Crichy Clarke or Tom Brady
Phone: 604.685.1144 / Toll Free: 1.877.685.1144
Email: ir@ttmresources.ca
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS AND INFORMATION
This news release contains certain “forward-looking information” within the meaning of Canadian securities laws. Actual results may differ materially from those indicated by such forward-looking information. All information included herein, other than statements of historical fact, including, without limitation, information regarding future production, is considered forward-looking information and involves various risks and uncertainties. There can be no assurance that the forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
