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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers
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From: E. Charters3/31/2006 6:22:58 PM
   of 78419
 
TORONTO, ONTARIO -- March 30, 2006 - Exall Resources Limited EXLTSE EXALF/OTCBB announced today that it has closed the previously announced $10,400,000 financings.

Proceeds of $8,400,000 were raised by way of a brokered private placement through Dundee Securities Corporation and Dominick & Dominick Securities Inc. The brokered private placement consisted of 1,500,000 "flow-through" common shares of Exall (the "Flow-Through Shares") priced at $2.10 per Flow-Through Share and 3,000,000 units (that are not flow-through) of Exall (the "Units") priced at $1.75 per Unit and consisting of one common share of Exall and one-half of one share purchase warrant. Each whole share purchase warrant may be exercised to acquire one common share of Exall at a price of $2.25 for a period of 12 months, provided that if after four months and one day following the closing of the private placement, the closing price of the common shares of Exall on the principal market in Canada on which such shares trade is equal to or exceeds $3.00 for 20 consecutive trading days, then Exall may accelerate the expiry date of the share purchase warrants by giving notice to the holders thereof and in such case the share purchase warrants will expire on the 30th day after the date on which such notice is given by Exall. The Agents received a cash commission of 6% of the gross proceeds raised from the brokered private placement.
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