By Sheri Kasprzak
New York, Sept. 14 - Exall Resources Ltd. said it plans to raise C$1 million in a non-brokered private placement.
The company plans to sell 2.5 million units at C$0.40 each.
The units include one share and one half-share warrant. The whole warrants provide for the purchase of another share at C$0.50 each for one year.
Proceeds from the offering will be used for drilling at the Gold Eagle mine property in Red Lake, Ont., and for oil and gas activities. The rest will be used for working capital.
Based in Toronto, Exall is a gold, oil and natural gas exploration company.
| Issuer: | Exall Resources Ltd.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$1 million
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| Units: | 2.5 million
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| Price: | C$0.40
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | One year
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| Warrant strike price: | C$0.50
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| Pricing date: | Sept. 14
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| Stock price: | C$0.475 at close Sept. 13
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