DiscFactories Corporation

DiscFactories Corporation

January 18, 2007 20:36 ET

DiscFactories Corporation to Trade on NEX Board; Will Continue Listing Process With CNQ

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 18, 2007) -


DiscFactories Corporation (the "Corporation") (TSX VENTURE:DSK) announces that the Corporation has received notice from the TSX Venture Exchange (the "Exchange") that, due to its inability to meet the Exchange's Tier 2 Tier Maintenance Requirements, the shares of the Corporation will be transferred to the NEX board effective as of the market opening on Friday, January 19, 2007. The NEX is a separate board of the Exchange for companies previously listed on the Exchange or the TSX which do not meet the ongoing financial listing standards of those markets. NEX has been designed to provide a forum for the trading of companies which are undertaking transactions in furtherance of a reactivation to carry on an active business. The Corporation's shares will trade on the NEX board under the symbol DSK.H.

As announced by the Corporation on October 19, 2006, shareholder approval was received at a special meeting of shareholders held on October 16, 2006 to complete the Corporation's previously announced reorganization and Change of Business, pursuant to which it will acquire the Silver/Gold Needles property located in Nye County, Nevada from Taranis Resources U.S. Inc., a subsidiary of Taranis Resources Inc. (TSX VENTURE:TRO) and become involved in mineral exploration. As announced by the Corporation on November 8, 2006, however, due to unforeseen difficulties in completing the concurrent private placement for the Change of Business in the amount originally contemplated, the Corporation will be unable to complete the transaction to satisfy the minimum financial listing requirements on the Exchange. As a result, the Corporation has applied to list its shares on the Canadian Trading and Quotation System Inc. ("CNQ"). In the event that the Corporation is approved for listing on the CNQ, the Corporation intends to raise approximately $330,000 in order to complete its proposed Change of Business transaction, including a change of name to Excalibur Resources Ltd., settlement of outstanding debts and the acquisition of the Needles property, concurrent with its listing on the CNQ and will delist its shares from the NEX. Listing on the CNQ will be subject to the Corporation meeting the listing requirements of the CNQ.

On behalf of the Board of Directors:

Edwin Bergsteinsson, Chairman

Neither the TSX Venture Exchange nor the CNQ have in any way passed upon the merits of the proposed transaction and neither have approved nor disapproved the contents of this press release.

Contact Information