November 30, 2006 09:07 ET

ExAlta Energy Announces $10.1 Million Financing

CALGARY, ALBERTA--(CCNMatthews - Nov. 30, 2006) - ExAlta Energy Inc. ("ExAlta" or the "Corporation") (TSX:EXA) announced today that it has entered into a bought deal financing agreement with a syndicate of underwriters led by FirstEnergy Capital Corp. and including Raymond James Ltd., MGI Securities Inc., Tristone Capital Inc., and Peters & Co. Limited. Pursuant to the terms of the agreement, 2 million flow-through common shares will be issued on a bought deal private placement basis at a price of $5.05 per flow-through common share for total gross proceeds of $10.1 million. Closing is expected to take place on or about December 21, 2006 and is subject to normal regulatory approvals. The proceeds received from the sale of the flow-through common 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 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)