New Issue: Exall seals C$500,500 final tranche of C$3.7 million placement of units

By Devika Patel

Knoxville, Tenn., April 5 - Exall Energy Corp. said it completed a C$500,500 second tranche of a C$3.7 million private placement of units through D & D Securities Co.

The company raised C$3.2 million on March 22.

The company sold 4,929,851 units at C$0.65 apiece in the first tranche and 770,000 units in the second. Each unit consists of one common share and one half-share warrant, with each whole warrant exercisable at C$0.80 for one year.

Proceeds will be used for drilling, working capital and general corporate purposes.

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

Issuer:	Exall Energy Corp.
Issue:	Units of one common share and one half-share warrant
Amount:	C$3,704,903
Units:	5,699,851
Price:	C$0.65
Warrants:	One half-share warrant per unit
Warrant expiration:	One year
Warrant strike price:	C$0.80
Agent:	D & D Securities Co.
Settlement date:	March 22 (for C$3,204,403), April 5 (for C$500,500)
Stock symbol:	Toronto: EE
Stock price:	C$0.63 at close March 19
Market capitalization:	C$37.9 million

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