Vancouver, BC – December 15, 2009: Altair Ventures Incorporated (“Altair”) (TSX-V: AVX) is pleased to announce that on December 14, 2009 it closed the second and final tranche of its non-brokered private placement financing first announced on October 9, 2009 and that the non flow-through unit portion of the placement has been increased from 1,666,666 non flow-through units (the “Units”) to 2,975,000 Units. This second closing consisted of a total of 2,775,000 Units at $0.15 per Unit for gross proceeds of $416,250 (the “Offering”). Each Unit consists of one common share and one-half of a common share purchase warrant. Each full warrant included in the Units will entitle the holder to purchase one additional common share for $0.22 and will be exercisable for a period of twelve months from the closing date of the Offering.
The TSX Venture Exchange has conditionally approved the Offering subject to the filing of final documents. None of the securities distributed under the Offering may be traded on the TSX Venture Exchange or otherwise sold in Canada or to or for the benefit of a resident of Canada before April 15, 2010 unless permitted under Canadian securities legislation and the rules of the TSX Venture Exchange.
The net proceeds of the Offering will be used by Altair to fund expenditures on the Prospect Valley Gold Property, located in southern British Columbia under Altair’s option agreement with Consolidated Spire Ventures Ltd. (TSX-V: CZS) and for general working capital purposes.
For further information please contact Fayyaz Alimohamed at (604) 641-1305, fax at (604) 688-8309 or e-mail [email protected]
ON BEHALF OF THE BOARD
Fayyaz Alimohamed, President & CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this News Release.