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Published on 12/6/2006 in the Prospect News PIPE Daily.

New Issue: International Enexco appoints agents for part of C$10.75 million sale of units

By Laura Lutz

Washington, Dec. 1 - International Enexco Ltd. announced that C$7.525 million of its previously announced C$10.75 million private placement of units will now be brokered.

The brokered part of the deal will be conducted through a syndicate of agents led by Wellington West Capital Markets Inc. and including Toll Cross Securities Inc. The remaining portion will still be non-brokered.

The total placement includes 5 million units of one share and one half-share non-transferable warrant at C$2.15 per unit. Each whole warrant will be exercisable at C$2.75 for one year.

The brokered portion will include 3.5 million of the units.

The agents also received a greenshoe for up to 525,000 additional units, for up to C$1,128,750, for 30 days following settlement of the deal.

Proceeds will be used for exploration on the company Contact copper project in Nevada and its Mann Lake uranium project in Saskatchewan as well as for working capital.

International Enexco is a Vancouver, B.C.-based mineral exploration company.

Issuer:International Enexco Ltd.
Issue:Units of one share and one half-share warrant
Amount:C$10.75 million
Units:5 million
Greenshoe:For 525,000
Price:C$2.15
Warrants:One half-share warrant per unit
Warrant expiration:One year
Warrant strike price:C$2.75
Agent:Wellington West Capital Markets Inc. (lead), Toll Cross Securities Inc for 3.5 million units; non-brokered for 1.5 million units
Pricing date:Dec. 1
Amended:Dec. 6
Stock symbol:TSX Venture: IEC
Stock price:C$2.20 at close Dec. 1
Stock price:C$2.20 at close Dec. 6

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