TTM RESOURCES INC. REPORTS ON ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS
AND ANNOUNCES NON-BROKERED PRIVATE PLACEMENT
Vancouver, B.C., November 25, 2010
Annual and Special Meeting of Shareholders
TTM Resources Inc. (“TTM” or the “Company”) is pleased to announce that its shareholders approved all matters presented at the Annual and Special Meeting of Shareholders held on November 24, 2010.
TTM’s shareholders elected Crichy Clarke, Terry Lyons, Richard Jordens, Robert Sibthorpe, Warren Robb and Kevin Ogle to the Board of Directors. Each shall serve as a Director of the Company until the 2011 Annual General Meeting.
Shareholders of the Company also re-appointed Smythe Ratcliffe, Chartered Accountants, as auditors for the ensuing year; approved the adoption of the Company’s 20% Stock Option Plan, the particulars of which are set out in more detail in the Company’s Management Information Circular dated October 20, 2010 (the “Circular”); and re-approved the Company’s Shareholder Rights Plan, the particulars of which are set out in more detail in the Circular.
Non-Brokered Private Placement
The Company is also pleased to announce that it has arranged a non-brokered private placement of up to 1,000,000 flow-through units at a price of $0.34 per unit (the “FT Units”), and up to 1,000,000 non-flow-through units at a price of $0.28 per unit (the “Non FT Units”), for aggregate gross proceeds of up to $620,000.
Each FT Unit under the private placement will consist of one flow-through common share and one common share purchase warrant. Each common share purchase warrant entitles the holder to acquire one additional non-flow-through common share of the Company at an exercise price of $0.40 within 24 months of closing. Each Non FT Unit under the private placement will consist of one non-flow-through common share and one common share purchase warrant. Each common share purchase warrant entitles the holder to acquire one additional non-flow-through common share of the Company at an exercise price of $0.40 within 24 months of closing. The private placement is subject to regulatory approval.
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
For further information visit the Company’s web site at www.ttmresources.ca, or contact:
Crichy Clarke or Tom Brady
TTM Resources Inc.
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.
Gruss RPM
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