New Issue: Exall completes C$2.02 million private placement of units, shares

By Devika Patel

Knoxville, Tenn., Dec. 17 - Exall Energy Corp. announced it has raised C$2.02 million in a non-brokered private placement of units and stock.

The company sold 1,075,625 units at C$0.40 each for C$430,250. The units consist of one common share and one half-share warrant with each whole warrant exercisable at C$0.60 for one year.

The company also sold 3,523,892 flow-through common shares at C$0.45 per share for aggregate C$1,585,751.40.

Proceeds will be used for exploration, general working capital purposes and project development.

Based in Calgary, Alta., Exall Energy is a junior oil and gas company.

Issuer:	Exall Energy Corp.
Issue:	Units of one common share and one half-share warrant, flow-through common shares
Amount:	C$2,016,001.40
Agent:	Non-brokered
Fees:	C$1,575,000 in cash, 1.5 million compensation warrants exercisable for units
Settlement date:	Dec. 17
Stock symbol:	Toronto: EE
Stock price:	C$0.365 at close Dec. 17
Units
Amount:	C$430,250
Units:	1,075,625
Price:	C$0.40
Warrants:	One half-share warrant per unit
Warrant expiration:	One year
Warrant strike price:	C$0.60
Flow-through shares
Amount:	C$1,585,751.40
Shares:	3,523,892
Price:	C$0.45

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