New Issue: Exmin wraps C$1.21 million placement of units, greenshoe partially exercised

By Devika Patel

Knoxville, Tenn., Oct. 25 - Exmin Resources Inc. said it has completed a C$1,212,600 private placement of units. The deal priced on Oct. 9 for up to C$1 million with a C$625,000 greenshoe.

The company sold 3,031,500 units of one share and one half-share warrant at C$0.40 per unit. Each whole warrant will be exercisable at C$0.50 for two years. Exmin sold 531,500 units as part of the greenshoe, and an additional 718,500 units may be issued within the next five business days.

Union Securities Ltd., the agent, was paid a 7% cash commission and also received broker warrants to purchase a number of units equal to 8% of the units sold. Each broker warrant is exercisable at C$0.40 per unit for two years.

Exmin is a precious metals exploration and development company based in Vancouver, B.C.

Issuer:	Exmin Resources Inc.
Issue:	Units of one share and one half-share warrant
Amount:	C$1,212,600, including C$212,600 from greenshoe
Units:	3,031,500, including 531,500 from partial exercise of greenshoe
Price:	C$0.40
Warrants:	One half-share warrant per unit
Warrant expiration:	Two years
Warrant strike price:	C$0.50
Agent:	Union Securities Ltd.
Fees:	7% in cash, 8% in warrants
Pricing date:	Oct. 9
Stock symbol:	TSX Venture: EXM
Stock price:	C$0.395 at close Oct. 9

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