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Press Release Source: Explor Resources Inc. On Monday February 21, 2011, 12:35 pm EST
ROUYN-NORANDA, CANADA--(Marketwire - Feb. 21, 2011) - Explor Resources Inc. (the "Company") (TSX VENTURE:EXS - News) is pleased to announce that it has closed a non-brokered private placement for a total amount of CDN$200,000.
The placement consists of:
400 000 common shares at a price of $0.50 per share and each share is accompanied of one common share purchase warrant. Each whole warrant allows the subscriber to purchase one (1) common share of the Company at a price of $0.70 per share for a period of 24 months, expiring on February 21, 2013.
The securities issued pursuant to the Private Placement are subject to a hold period of four months and a day from the date of closing. This placement is subject to the final approval of the TSX Venture Exchange.
This Press Release, required by applicable Canadian laws, is not for distribution to U.S. News Services or for dissemination in the United States and does not constitute an offer of the securities described herein. These securities have not been registered under the United States Securities Act of 1933, as amended, or any state Securities Laws, and may not be offered or sold in the United States or to U.S. Persons unless registered or exempt therefrom.
Explor Resources Inc. is a publicly listed company trading on the TSX Venture Exchange (EXS).
This press release was prepared by Explor Resources Inc. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
