News release via Canada NewsWire, Toronto 416-863-9350

Attention Business Editors:

Cogitore Resources Inc. Completes Brokered Portion of Private Placement

TORONTO, April 25/CNW/ - Cogitore Resources Inc. (the « Company ») (WOO, TSX-V) is pleased to announce that on April 25, 2007 the Company completed the brokered portion of its previously announced private placement of 2,500,000 Flow-Through Units to raise $2,000,000 and 1,428,572 Units to raise approximately $1,000,000 for aggregate gross proceeds of approximately $3,000,000. The Company had previously announced (on April 23, 2007) that it had raised aggregate gross proceeds of $2,920,402 through the non-brokered portion of this private placement. Total aggregate gross proceeds for the private placement totalled approximately $5,920,402.

As previously announced, the Flow-Through Units were priced at $0.80 per Flow-Through Unit and the Units were priced at $0.70 per Unit. Each Flow-Through Unit consists of one Flow-Through Common Share and one half Common Share Purchase Warrant. Each whole Common Share Purchase Warrant that is part of the Flow-Through Unit will entitle the holder to purchase one additional Common Share at a price of $1.05 for a period of two years after the closing of the private placement. Each Unit consists of one Common Share and one half Common Share Purchase Warrant. Each whole Common Share Purchase Warrant that is part of the Unit will entitle the holder to purchase one additional Common Share at a price of $0.90 for a period of two years after the closing of the private placement.

As previously disclosed, Northern Securities Inc. (“Northern”) received a 6% commission totalling approximately $180,000 and Flow-Through Broker Warrants and Broker Warrants equal to 10% of the number of Flow-Through Units and Units, respectively, sold pursuant to its portion of the private placement. The Broker Warrants will be exercisable into Flow-Through Broker Units and Broker Units, respectively, at the issue price at any time prior to the date that is 24 months from the closing date of the private placement.  Each Flow-Through Broker Unit and Broker Unit will consist of one common share and one half of one Common Share Purchase Warrant, the exercise price of each whole Common Share Purchase Warrant will be $1.05 and $0.90, respectively. Northern received 250,000 Flow-Through Broker Warrants and 142,857 Broker Warrants.

The Common Shares issued at closing are, and the Common Shares issued upon exercise of the Common Share Purchase Warrants will be subject to resale restrictions pursuant to applicable securities laws requirements and notably to a hold period of four months plus one day from the closing date.

The proceeds of the Flow-Through portion of the financing will be used to fund the Company’s 2007-08 exploration program, while the non-Flow-Through portion of the financing will be used for the Company’s 2007-08 exploration program and for general corporate purposes.

The Company now has 30,532,305 common shares issued and outstanding.

The Company has developed a strategic focus on base metal exploration in prospective areas that also feature infrastructure favourable for mining development. Accordingly, it will focus its work in the Abitibi Belt of Quebec and Ontario, and in the Central Belt of Newfoundland.

On Behalf of the Board of Directors:

Mark Goodman, Chairman of the Board
Telephone: 416-924-9893
www.cogitore.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
SEDAR: 00020132E. CNW 25-APR-07 ©2007 Cogitore Resources Inc.


 
[x] CLOSE WINDOW