Vancouver, BC - Consolidated Abaddon Resources Inc. (TSX.V: ABN) (FWB: E2L) announces that it has closed its 2,500,000 unit private placement announced by news release dated March 19, 2007. The Company raised the sum of $1,250,000 by the issuance of 2,500,000 Units.
The Units are at a price of $0.50 per Unit. Each Unit consists of one common share and one share purchase warrant which entitles the holder to purchase an additional common share at a price of $0.60 until the close of business April 11, 2009.
As a finder's fee in connection with the transaction, the Company has paid the sum of $4,125.00 and issued a further 74,250 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 August 13, 2007.
The following insiders participated in this private placement: Jim Pettit, Donald C. Huston and William A. Trimble.
Consolidated Abaddon Resources Inc. is a Canadian uranium exploration company actively involved with the development of uranium properties in the ATHABASCA BASIN of northern Saskatchewan and the SIMS BASIN of western Labrador.
Property partners include Denison Mines Corp. and Triex Minerals Corp.
ON BEHALF OF THE BOARD OF DIRECTORS
"Don Myers"
____________________________
DONALD G. MYERS
Director
For further information contact:
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 EXCHNAGE HAVE NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.
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