EXMIN Resources Inc.

EXMIN Resources Inc.

October 25, 2007 10:28 ET

EXMIN Completes Private Placement Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 25, 2007) - EXMIN Resources Inc. ("EXMIN") (TSX VENTURE:EXM) is pleased to report that it has completed the private placement financing initially announced on October 9, 2007 (the "Offering"). The private placement was completed pursuant to an agency agreement with Union Securities Ltd. (the "Agent") and raised $1,212,600 in gross proceeds. EXMIN issued up to 3,031,500 units at a price of $0.40 per unit. Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant will be exercisable into one common share of EXMIN at a price of $0.50 until October 24, 2009. This includes the issuance of 531,500 units pursuant to an over-allotment option (the "Over-Allotment Option") granted by EXMIN to the Agent. Up to an additional 718,500 units may be issued pursuant to the Over-Allotment Option if exercised within five business days of the closing of the Offering and completed within 10 business days of the closing of the Offering.

The Agent received a cash commission equal to 7% of the gross proceeds from the Offering and the Over-Allotment Option. The Agent was also granted broker warrants equal to 8% of all units sold pursuant to the Offering and the Over-Allotment Option. Each broker warrant will entitle the Agent to purchase units at a price of $0.40 per unit for a period of 24 months from the date of the closing of the Offering.

The securities issued under the Offering are subject to a four month hold period expiring on February 25, 2008, as required by applicable securities laws and the policies of the TSX Venture Exchange. The Offering is subject to receipt of all necessary approvals, including the approval of the TSX Venture Exchange.


EXMIN Resources Inc. is currently focused on the exploration and development of precious metal properties of significant merit in the Sierra Madre gold belt of Northwestern Mexico.

Note: EXMIN Resources Inc. (EXMIN) has taken all reasonable care in producing and publishing information contained in this news release. Material in this news release may still contain technical inaccuracies, omissions or typographical errors, for which EXMIN assumes no responsibility. This news release may include certain "forward-looking statements" including but not limited to comments regarding predictions and projections. All statements, other than statements of historical fact, included in this news release, including, without limitation, statements regarding potential mineralization, exploration results, and future plans and objectives of EXMIN, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in documents filed from time to time with the regulatory authorities.

The TSX Venture Exchange has not reviewed this release and does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • EXMIN Resources Inc.
    Karl J. Boltz
    President & CEO
    EXMIN Resources Inc.
    Investor Relations
    Email: info@exmin.com
    Website: www.exmin.com