Typhoon Exploration Inc.
TSX VENTURE : TYP

Typhoon Exploration Inc.

March 29, 2006 10:15 ET

Typhoon Exploration Inc.: Closing of a Private Placement of $173,000

LAVAL, CANADA--(CCNMatthews - March 29, 2006) - Typhoon Exploration Inc. (TSX VENTURE:TOO) is pleased to announce that it has concluded on March 23, 2006 a non-brokered private placement, performed under an exemption of Regulation 45-106 respecting Prospectus and Registration Exemptions, totalling 173 units ($173,000) at an offering price of one thousand dollars ($1,000) per unit representing a total of 288,218 common shares and 288,218 share purchase warrants.

Each unit consist of one thousand six hundred and sixty-six (1,666) common shares of the Corporation at a price of sixty cents ($0.60) per share and one thousand six hundred sixty-six (1,666) purchase warrants, each warrant entitling the holder to purchase one common share at a price of seventy-eight cents ($0.78) for a period of twelve (12) months from the closing date. Moreover, the exercise of a warrant will be subjected to the following restriction: if, during the warrant exercise period, the common shares are traded at a price of seventy-eight cents ($0.78) and more for a period of five (5) consecutive business days, the subscriber will have, at the end of this 4 months and one day period, five (5) days to exercise its warrants, failing which, the right to exercise the warrants will be deemed raised. The shares and the warrants will be escrowed for a four (4) months period following the approval of the regulatory authorities.

The press release dated March 24, 2006 should read that Typhoon issued 324,035 common shares and the Company received $ 178,219.14 in cash following the exercise by 4 investors of warrants at a price of $ 0.55.

The common shares of Typhoon Exploration are listed on the TSX Venture Exchange under the symbol "TOO".

Statements in this release that are not historical facts are "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned that any such statements are not guarantees of future performance and that actual developments or results may vary materially from those in these "forward-looking statements. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release

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