Tribute Announces Closing of $885,600 Financing and Start of Winter Exploration Program
TSXV Symbol: TBM
For Immediate Release: December 7, 2005
Tribute Minerals Inc. (“Tribute” or the “Company”) is pleased to announce that on December 6, 2005, it closed the first tranche of a brokered private placement consisting of 4,705,000 flowthrough units priced at $0.12 per unit for gross proceeds of $564,600.00 and 3,210,000 working capital units priced at $0.10 per unit for gross proceeds of $321,000. Each flow-through unit (an “FT Unit”) consists of one (1) flow-through common share and one (1) share purchase warrant
(a “Warrant”) with each warrant entitling the holder to acquire an additional common share at a price of $0.12 per share until December 6, 2007. Each working capital unit (a “WC Unit”) consists of one (1) common share and one (1) Warrant.
Union Securities Ltd, the agent for the private placement, received cash commissions representing 10% of the gross proceeds of the offering and 633,200 Broker Warrants (each a “Broker Warrant”), with each Broker Warrant entitling the Agent to acquire a Broker Unit at $0.10 per Broker Unit until December 6, 2007. Each Broker Unit is comprised of one (1) common share (a “Broker Share”) and one (1) share purchase warrant (an “Underlying Warrant”), with each Underlying Warrant entitling the Agent to acquire an additional common share (an “Underlying Share”) at a price of $0.12 per Underlying Share until December 6, 2007.
The securities issued on all of these transactions are legended and restricted from trading until
April 7, 2006.
The Company will keep the offering open until January 6, 2006 to offer further WC Units and/or FT Units aggregating $264,400.
Hole surveys, on the Arrow zone, are to commence immediately in preparation for the winter drill program.
The current outstanding capital of the Company is 47,571,910 common shares.
FOR FURTHER INFORMATION PLEASE CONTACT:
Tribute Minerals Inc.
Ian Brodie-Brown
President and C.E.O.
(416) 368-2929
(416) 601-1450 (FAX)
info@tributeminerals.com
www.tributeminerals.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
