Vancouver, BC – January 23, 2008: Altair Ventures Incorporated (“Altair”) (TSXV:AVX). Altair is announcing a non-brokered private placement of up to 5,000,000 Units at a price of C$0.20 per Unit for gross proceeds of up to C$1,000,000.
Each Unit consists of one common share in the Company and one half of a nontransferable share purchase warrant. One whole share purchase warrant will entitle the holder to acquire one additional common share of the Company at a price of C$0.30 per share for a period of one year following the closing.
The proceeds of the financing will be used for an exploration program at the Company’s CJ Property project in Alaska, to explore further opportunities for the acquisition and development of additional properties, and for general working capital purposes.
The private placement is subject to compliance with applicable securities laws and the acceptance of the TSX Venture Exchange.
For further information please contact Kareen McKinnon at (604) 764-2385, fax at (604) 688-8309 or e-mail [email protected]
ON BEHALF OF THE BOARD OF DIRECTORS
Fayyaz Alimohamed, President & CEO
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this News Release.