Saskatoon, Sask., October 21, 2005 – Titan Uranium Incorporated (TSXV: TUE, TUE-WT) is pleased to announce the completion of its previously announced brokered private placement. The private placement consisted of the sale of 3,000,000 units (the “Units”) at a price of C$1.00 per Unit, for gross proceeds of C$3,000,000. Each unit consists of one common share and onehalf of one share purchase warrant, with each whole warrant entitling the holder to purchase one additional common share at a price of C$1.35 until October 21, 2007.
Canaccord Capital Corporation and PowerOne Capital Markets Limited acted as joint agents (the “Agents”) under the private placement and were entitled to receive a commission equal to 8% of the gross proceeds of the offering. The agents elected to have the majority of their commission paid in Units consisting of 215,100 Units with the remaining C$24,900 paid in cash. Additionally, the Agents were issued Agent’s warrants to acquire up to 10% of the Units sold under the offering, being 300,000 Agent’s warrants. Each Agent’s warrant entitles the holder to purchase one common share of Titan at a price of C$1.10 per common share until October 21, 2007. Lastly, Titan paid a corporate finance fee to Canaccord Capital Corporation consisting of the issuance of 30,000 units, each unit consisting of one common share and one-half of one Agent’s warrant, and C$5,000 in cash.
All of the securities issued in connection with the private placement are subject to a hold period in Canada which expires on February 22, 2006.
ON BEHALF OF TITAN URANIUM INC.
Chief Executive Officer
For further information contact: Arni Johannson
Second Floor, 157 Chadwick Court, North Vancouver, British Columbia
Canada V7M 3K2
Telephone: (604) 988-4824
Facsimile: (604) 988-5327
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors identified in Titan’s periodic filings with Canadian Securities Regulators. Such forward-looking information represents management’s best judgment based on information currently available. No forwardlooking statement can be guaranteed and actual future results may vary materially. Titan does not assume the obligation to update any forward-looking statement.