Plexmar Resources Inc.
TSX VENTURE : PLE

Plexmar Resources Inc.

January 18, 2008 20:12 ET

Plexmar Resources Inc. Completes the Second Tranche of its Private Offering Announced on December 21, 2007

QUEBEC-CITY, QUEBEC--(Marketwire - Jan. 18, 2008) - DISTRIBUTION OF THIS NEWS RELEASE IS RESTRICTED SOLELY TO CANADA. IT CANNOT BE DISTRIBUTED IN THE UNITED STATES THROUGH U.S.-BASED WIRE SERVICES.

Plexmar Resources Inc. ("Plexmar") (TSX VENTURE:PLE) is pleased to confirm that it has completed today the second tranche of its private offering announced and closed on December 21, 2007. This second tranche, for an amount of $38,500, consisted in the issuance of a total of 275,000 units (the "Units") at a price of $0.14 per Unit. Each Unit is comprised of one Plexmar common share and one half common share purchase warrant. Each whole common share purchase warrant entitles its holder to subscribe to one additional common share at a price of $0.20 per share at any time before 5:00 pm (Quebec time) on December 22, 2008.

Plexmar intends to use the proceeds of this private offering for the implementation of its exploration programs and for its working capital.

For the purposes of this private offering, Plexmar has granted to one intermediary a total cash compensation of $1,960.

Securities issued as part of this offering are subject to a four-month hold period under applicable securities legislation.

FORWARD LOOKING STATEMENTS

This news release contains certain forward-looking statements. These statements relate to future events or Plexmar's future economic performance, and carry risks, uncertainties and other factors - both known and unknown - that may appreciably affect the company's accomplishments, economic performance or results when considered in light of the content or implications of statements made by Plexmar. Actual events or results could be significantly different. Plexmar undertakes no obligation, and does not intend, to update these forward-looking statements.

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

Contact Information

  • Plexmar Resources Inc.
    Guy Bedard
    President and Chief Executive Officer
    418-658-6776