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Re: News Releases - Thursday, April 17, 2008
Orebodies Announces Private Placement
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TORONTO, Canada -- April 17, 2008 -- Marketwire - Canadian Orebodies
Inc. ("the Company") (TSXV: CO) announces that it has engaged Pope &
Company Limited (the "Agent") of Toronto to act as agent to sell, on a
best efforts basis, by way of private placement, units of securities of
the Company for maximum gross proceeds of $3,000,000 (the "Offering").

The Offering will be comprised of units ("Units") and flow-through
units ("Flow-Through Units"). The Units will be priced at $0.25 per
Unit with each Unit consisting of one non "flow-through" common share
("Common Share") and one half of one Common Share purchase warrant
(each such whole common share purchase warrant being referred to herein
as a "Warrant"). Each Warrant will be exercisable into one Common Share
for a period of 24 months from closing at an exercise price of $0.40
per share during the 12 month period beginning on the date of the
closing of the Offering ("Year 1") and $0.50 for the 12 month period
thereafter ("Year 2"). The Flow-Through Units will be priced at $0.30
per Flow-Through Unit with each Flow-Through Unit consisting of one
Common Share issued on a "flow-through" basis and one half of one
Warrant. The expiry date of the Warrants may be accelerated, at the
option of the Company, if the closing price of the Common Shares on the
TSX Venture Exchange exceeds $0.50 in Year 1 or $0.60 in Year 2 for a
period of 20 consecutive trading days commencing on the date that is
four months and one day after the closing of the Offering by giving
notice to the holders thereof, in which case the Warrants will expire
on the twentieth business day after the date on which such notice is
given by the Company.

The Company will pay the Agent a cash commission equal to 8% of the
aggregate gross proceeds of the Offering and issue to the Agent
non-transferable broker warrants to acquire that number of units of
securities of the Company ("Broker Units") equal to 10% of the
aggregate number of Units and Flow-Through Units purchased through the
Offering (the "Unit Broker Warrants"). Each Unit Broker Warrant will be
exercisable into one Broker Unit at the Unit issue price at any time
prior to the date that is 24 months from the closing of the Offering.
The net proceeds of the Offering will be used for the exploration of
the Company's mineral projects and for general working capital
purposes.

The Offering is expected to close on or about April 30, 2008 and is
subject to the approval of the TSX Venture Exchange.

The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this press release.

For more information please contact:
Gordon McKinnon
President & CEO
705.268.9000

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Copyright (c) 2008 CANADIAN OREBODIES INC. (BLR) All rights reserved.
For more information visit our website at
http://www.CanadianOrebodies.com or send mailto:akelcey@christinet.ca
Message sent on Thu Apr 17, 2008 at 1:16:27 PM Pacific Time
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