New Issue: Apogee Minerals wraps C$2.96 million private placement of units

By Devika Patel

Knoxville, Tenn., May 27 - Apogee Minerals Ltd. said it settled a C$2.96 million non-brokered private placement of units. The deal priced for C$3 million on May 5.

The company sold 7,394,525 units at C$1.30 each. The units consist of one common share and one warrant with each warrant exercisable at C$0.50 until May 23, 2010.

Proceeds will be used to continue the development of Apogee's key projects.

Toronto-based Apogee is a producer of silver, zinc and lead.

Issuer:	Apogee Minerals Ltd.
Issue:	Units of one common share and one warrant
Amount:	C$2,957,810
Units:	7,394,525
Price:	C$0.40
Warrants:	One warrant per unit
Warrant expiration:	May 23, 2010
Warrant strike price:	C$0.50
Agent:	Non-brokered
Pricing date:	May 5
Settlement date:	May 26
Stock symbol:	TSX Venture: APE
Stock price:	C$0.375 at close May 2

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