June 06, 2006 10:17 ET

ExAlta Closes $11.9 Million Financing

CALGARY, ALBERTA--(CCNMatthews - June 6, 2006) - ExAlta Energy Inc. ("ExAlta") (TSX:EXA) announced that it has closed its previously announced bought deal private placement of flow-through common shares ("Flow-Through Shares"). In aggregate, ExAlta issued 1.7 million Flow-Through Shares at a price of $7.00 per Flow-Through Share for total gross proceeds of $11.9 million through a syndicate of underwriters led by FirstEnergy Capital Corp. and including Raymond James Ltd., MGI Securities Inc. and Tristone Capital Inc. The proceeds received from the sale of the Flow-Through Shares will be used to fund qualifying exploration activities on ExAlta's properties.

This news release shall not constitute an offer to sell or the solicitation of any offer to buy securities in any jurisdiction. The common shares of ExAlta have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold in the United States or to any U.S. person except in certain transactions exempt from the registration requirements of the U.S. Securities Act and applicable state securities laws.

Contact Information

  • ExAlta Energy Inc.
    James S. Blair
    Chairman & Chief Executive Officer
    (403) 206-2404
    ExAlta Energy Inc.
    Ian R. Robinson
    Vice President & Chief Financial Officer
    (403) 206-2410
    ExAlta Energy Inc.
    1900, 520 - 5th Avenue SW
    Calgary, Alberta T2P 3R7
    (403) 206-2400
    (403) 206-2409 (FAX)