TORONTO, ONTARIO--(CCNMatthews - Sept. 1, 2005) - Exall Resources Limited ("Exall" or the "Corporation") (TSX:EXL) confirms that the price of the Flow Through Common Shares and Units is $0.40 each under the terms of the previously announced $4,000,000 private placement.
The financing consists of flow-through common shares of the Corporation ("Flow-Through Common Shares"), with each Flow Through Common Share priced at $0.40 each, and units of the Corporation ("Units"), with each Unit priced at $0.40 each, and comprised of one common share and one-half of one common share purchase warrant, with each whole warrant exercisable at $0.50 for a period of 12 months to acquire an additional common share of Exall.
Exall Resources Limited is a Toronto Stock Exchange listed company that trades under the symbol EXL (S.E.C. registration #82-3535). Exall is active in its business of gold exploration and development in Red Lake, Ontario, as well as oil and gas exploration, development and production from its properties in Alberta, British Columbia and Texas.
There are currently 56.9 million common shares issued and outstanding.
FORWARD LOOKING STATEMENTS:
The statements made in this News Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.
FOR FURTHER INFORMATION PLEASE CONTACT:
Exall Resources Limited
Stephen G. Roman
Chairman, President and CEO
(416) 368-5146 (FAX)