Explor Resources Inc.
TSX VENTURE : EXS

Explor Resources Inc.

February 19, 2007 18:22 ET

Explor Resources Inc.: Private Placement

ROUYN-NORANDA, QUEBEC--(CCNMatthews - Feb. 19, 2007) - EXPLOR RESOURCES INC. (TSX VENTURE:EXS) is pleased to announce the negotiation of a private placement of $370,000 CDN. The private placement will be for 1,363,636 flow-through shares at the price of $0.22 per share and of 411,767 common shares at a price of $0.17 per share. Each common share will be accompanied of one share purchase warrant valid for a period of 24 months. Each warrant will allow the subscriber to purchase one common share of the Company at a price of $0.22 per share.

Canaccord Capital Corporation will receive a commission of $19,500 in cash and 45,000 warrants. M. Francois Simard will receive a commission of $13,000 in cash and 30,000 warrants. These warrants will be valid for a period of 12 months. Each Warrant will allow the subscriber to purchase one (1) common share of the Company at a price of $0.22.

The securities issued pursuant to this private placement are subject to a hold period of four months from closing. This placement is subject to the approval of the regulatory authorities.

EXPLOR RESOURCES INC. is a publicly traded company on the TSX-Venture (TSXV-EXS).

This Press Release was prepared by EXPLOR RESOURCES INC. and the TSX Venture has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Explor Resources Inc.
    Mr. Christian Dupont
    President
    1-800-388-8668 or 819-797-8668
    819-797-6050 (FAX)