TORONTO, ONTARIO--(Marketwire - May 26, 2008) -
NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWSWIRE SERVICES
Apogee Minerals Limited ("Apogee" or "the Company") (TSX VENTURE:APE) is pleased to announce that it has completed its previously announced non-brokered private placement offering of 6,942,025 units for gross proceeds of $2,957,810.00 at $0.40 per Unit on May 23, 2008. Each unit is comprised of one common share and one share purchase warrant. Each share purchase warrant will be exercisable for one Apogee common share at a price of $0.50 per warrant exercised until May 23, 2010.
The gross proceeds from the sale of the Units will be used to continue the development of Apogee's key projects.
The financing remains subject to receipt of applicable regulatory approvals including final approval of the TSX Venture Exchange. All of the securities issued, including the shares issuable on exercise of the warrants, are subject to resale restrictions for a period of four months and one day from the closing date.
For detailed project information please refer to Apogee's web site at www.apogeeminerals.com.