EXALTA ENERGY INC.
TSX : EXA

EXALTA ENERGY INC.

December 21, 2006 10:33 ET

ExAlta Closes $10.1 Million Financing

CALGARY, ALBERTA--(CCNMatthews - Dec. 21, 2006) - ExAlta Energy Inc. ("ExAlta") (TSX:EXA) is pleased to announce that it has closed its previously announced bought deal private placement of flow-through common shares ("Flow-Through Shares"). In aggregate, ExAlta issued 2,000,000 Flow-Through Shares at a price of $5.05 per Flow-Through Share for total gross proceeds of $10.1 million through a syndicate of underwriters led by FirstEnergy Capital Corp. and including Raymond James Ltd., MGI Securities Inc., Tristone Capital Inc. and Peters & Co. Limited. 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.

Contact Information

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