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Zazu Metals closes IPO for US$4.4 million

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Zazu Metals Corporation

On December 19, 2007, Zazu Metals Corporation ("Zazu") announced that a first closing of its Initial Public Offering of units had been completed. Pursuant to this first closing, Zazu issued and sold a total of 2,536,300 units at a price of $1.75 per unit for total gross proceeds of $4,438,525. Each unit is comprised of one common share and one-half of one common share purchase warrant. Each whole common share purchase warrant entitles the holder to acquire one common share for $2.25 until December 19, 2012. Raymond James Ltd., Dundee Securities Corporation, Paradigm Capital Inc., Cormark Securities Inc. and MGI Securities Inc. acted as agents. Zazu's common shares and common share purchase warrants began trading on the Toronto Stock Exchange under the symbols "ZAZ" and "ZAZ.WT", respectively. Zazu was advised in this transaction by a team from Fasken Martineau that included John Turner, John Sabetti, Jennifer Armstrong and Daye Kaba (securities/mining), assisted by student-at-law Amanda Fullerton.



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