Explor Resources Inc.
TSX VENTURE : EXS

Explor Resources Inc.

February 28, 2007 11:15 ET

Explor Resources Inc.: Private Placement

ROUYN-NORANDA, QUEBEC--(CCNMatthews - Feb. 28, 2007) - Explor Resources Inc. (TSX VENTURE:EXS) is pleased to announce the closing of a private placement of $370,000 CDN. The private placement is for 1,363,636 flow-through shares at $0.22 per share and 411,767 common shares at $0.17 per share. Each common share is accompanied of one share purchase warrant valid for a period of 24 months. Each warrant allows the subscriber to purchase one (1) common share of the Company at a price of $0.22.

Canaccord Capital Corporation will receive a commission of $19,500 in cash and 45,000 warrants and Mr. Francois Simard will receive a commission of $13,000 in cash and 30,000 warrants that are valid for a period of 12 months. Each warrant allows the subscriber to purchase one (1) common share of the Company at a price of $0.22 per share.

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

Explor Resources Inc. is a public listed company trading on the TSX Venture (EXS).

This press release was prepared by Explor Resources inc. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Explor Resources Inc.
    Christian Dupont
    President
    1-819-797-4630 or 1-800-388-8668
    1-819-767-6050 (FAX)