For Immediate Release
March 1, 2006
EXMIN INCREASES SIZE OF PRIVATE PLACEMENT
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES
EXMIN Resources Inc. ("EXMIN") (EXM: TSX.V) is pleased to report that it has agreed with Union Securities Ltd. (the "Agent") to increase the size of the private placement offering (the "Offering") previously announced on February 28, 2006.
EXMIN will issue up to 12,833,333 units at a price of $0.15 per unit, of which 1,500,000 units will be issued on a non-brokered basis and the remainder will be issued on a brokered basis through the Agent. Each unit will consist of one common share and one-half of one common share purchase warrant. Each whole warrant will be exercisable into one common share of EXMIN at a price of $0.20 for a period of 24 months from the date of issuance. EXMIN has also granted the Agent an over-allotment option to purchase additional units up to 15% of the number of units issued through the Agent at closing, which over-allotment option must be exercised within 10 days of the closing of the Offering. If the Offering is fully subscribed and the over-allotment option is exercised in full, EXMIN will issue 14,533,333 units under the Offering for gross proceeds of $2,180,000. To accommodate the increased size of the Offering, the anticipated date of closing has been extended to March 9, 2006.
The Agent will receive a cash commission equal to 10% of the gross proceeds of the Offering. The Agent will also be granted broker warrants equal to 10% of all units sold through the Agent pursuant to the Offering. Each broker warrant will entitle the Agent to purchase units at a price of $0.15 per unit for a period of 24 months from the date of the closing of the Offering.
The Offering is subject to receipt of all necessary approvals, including the approval of the TSX Venture Exchange.
About EXMIN
EXMIN Resources Inc. is currently focused on the exploration and development of precious metal properties of significant merit in the Sierra Madre gold and silver belt of Northwestern Mexico.
For further information contact:
Karl J. Boltz, President & CEO or Laney Stolle, Investor Relations at 1-888-244-0304, both of EXMIN Resources Inc. Visit us on the internet: www.exmin.com or Email us at: info@exmin.com
Note: EXMIN Resources Inc. (EXMIN) has taken all reasonable care in producing and publishing information contained in this news release. Material in this news release may still contain technical inaccuracies, omissions or typographical errors, for which EXMIN assumes no responsibility. This news release may include certain "forward-looking statements" including but not limited to comments regarding predictions and projections. All statements, other than statements of historical fact, included in this news release, including, without limitation, statements regarding potential mineralization, exploration results, and future plans and objectives of EXMIN, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in documents filed from time to time with the regulatory authorities.
The TSX Venture Exchange has not reviewed this release and does not accept responsibility for the adequacy or accuracy of this news release.
