Fri Sep 22, 2006 First Tranche Private Placement Closes
Consolidated Abaddon Resources Inc. (TSX.V: ABN) (the "Company") announces that it has issued a total of 150,222 flow-through units pursuant to the first tranche closing of a private placement originally announced September 6, 2006 and amended September 12 and 14, 2006. Each unit consists of one flow-through common share and one share purchase warrant entitling the holder to purchase one additional common share for a period of one year from the date of issue, at a price of $0.50 per share.
As a finder's fee in connection with the transaction, the Company has issued a further 10,000 units, each consisting of one common share and one share purchase warrant, having the same terms and conditions as the warrants referred to in the foregoing.
The common shares and warrants issued under the placement and as finder's fees, and any shares issued pursuant to the exercise of the share purchase warrants, are subject to a four month hold period under applicable securities laws, and imposed by the TSX Venture Exchange, expiring January 22, 2007.
Consolidated Abaddon Resources Inc. is a Canadian uranium and precious metal exploration company actively involved with the development of uranium properties in the ATHABASCA BASIN of northern Saskatchewan and the SIMS BASIN of northwestern Labrador. Property partners include International Uranium Corporation and Triex Minerals Corp.
ON BEHALF OF THE BOARD OF DIRECTORS
"Don Huston"
_________________________
DONALD C. HUSTON
Director
For further information contact myself or:
Don Myers
Consolidated Abaddon Resources Inc.
Director
Telephone: 604-687-3376
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@consolidatedabaddon.com
THE TSX VENTURE EXCHANGE AND FRANKFURT STOCK EXCHANGE HAVE NOT REVIEWED AND DO NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
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