X-Terra Proposes NAME Change to Comet Lithium Corp. and Announces Annual and Special Shareholder Meeting
X-TERRA PROPOSES NAME CHANGE TO
COMET LITHIUM CORP.
AND ANNOUNCES ANNUAL AND SPECIAL SHAREHOLDER MEETING
ROUYN-NORANDA, QC
,
April 20, 2023
/CNW/ - X-Terra Resources Inc. (TSXV: XTT)
(FRANKFURT: XTR) ("X-Terra" or the "Corporation") announces that is has scheduled an Annual
and Special Meeting of shareholders to be held
May 19, 2023
(the "
Meeting
").
At the Meeting, in addition to the election of directors, appointment of the auditor and yearly
approval of the Corporation's omnibus equity incentive plan, the shareholders will be asked to
approve a name change of the Corporation to
Comet Lithium Corp.
(
Corp. Com
é
te Lithium
), or to
such other name as may be acceptable to management, Corporations Canada,
the Registraire des
entreprises du Québec
(Registrar of Companies for the Province of Québec) and the TSX Venture
Exchange.
Mr.
Michael Ferreira
, President and CEO of X-Terra, commented: "The rebranding of X-Terra
Resources to Comet Lithium would be an exciting change reflecting the growing potential of our
Liberty Property, strategically located in the heart of a rapidly emerging new lithium area in the
prolific
James Bay
region (refer to
April 18, 2023
news release)."
Mr. Ferreira added, "With a cornerstone asset such as Liberty, and a tight share structure featuring
just 18.5 million shares outstanding, management sees great opportunities to build shareholder value
driven by a highly focused lithium company successfully branded and marketed as 'Comet Lithium'."
The name change is subject to regulatory approval, including that of the TSX Venture Exchange, and
receipt of shareholders' approval.
Liberty Property Map (CNW Group/X-Terra Resources Inc.)
Q
u
alified Person
Martin Demers
, P. Geo (ogq #770, APEGNB L5980), registered in the Provinces of Québec and
New-Brunswick
, a consultant to X-Terra Resources, is a qualified person
under National Instrument
43
–
101 - Standards of Disclosure for Mineral Projects.
He has reviewed the technical contents of
this news release and has approved the disclosure of the technical information contained herein.
About X-Terra Resources Inc.
X-Terra Resources is a well-structured publicly listed resource company with projects in the James
Bay Lithium District in
Quebec
as well as in
New Brunswick
(precious metals). Advancing its projects
with thoughtful and technical rigor, X-Terra strives to discover and delineate new compliant
resources, creating value for its shareholders.
Forward-Looking Statements
This news release contains statements that may constitute "forward-looking information" within the
meaning of applicable Canadian securities legislation. Forward-looking information may include,
among others, statements regarding the future plans, costs, objectives or performance of X-Terra
Resources, or the assumptions underlying any of the foregoing. In this news release, words such
as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan",
"estimate" and similar words and the negative form thereof are used to identify forward-looking
statements. Forward-looking statements should not be read as guarantees of future performance
or results, and will not necessarily be accurate indications of whether, or the times at or by which,
such future performance will be achieved. No assurance can be given that any events anticipated
by the forward-looking information will transpire or occur, including the expected exploration
programs in the spring and summer of 2023, and the timing thereof, and development (including
any drilling programs) of the Liberty, Galli and Triple Lithium projects, or if it does so, what
benefits X-Terra Resources will derive from these lithium projects. Forward-looking information is
based on information available at the time and/or management's good-faith belief with respect to
future events and are subject to known or unknown risks, uncertainties, assumptions and other
unpredictable factors, many of which are beyond X-Terra Resources' control. These risks,
uncertainties and assumptions include, but are not limited to, those described under "Financial
Instruments" and "Risk and Uncertainties in X-Terra Resources' Annual Report for the fiscal year
ended
December 31, 2022
, a copy of which is available on SEDAR at
www.sedar.com
, and could
cause actual events or results to differ materially from those projected in any forward-looking
statements. X-Terra Resources does not intend, nor does X-Terra Resources undertake any
obligation, to update or revise any forward-looking information contained in this news release to
reflect subsequent information, events or circumstances or otherwise, except if required by
applicable laws.
Neither the 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
the release.
SOURCE
X-Terra Resources Inc.
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For further information:
X-Terra Resources Inc., Michael Ferreira, President and Chief Executive
Officer 147 Québec Avenue (back door), Rouyn-Noranda, Québec, J9X 6M8, Email:
[email protected]; MarketSmart Communications Inc., Adrian Sydenham, Toll-free: 1-877-
261-4466, Email: [email protected]
CO: X-Terra Resources Inc.
CNW 08:00e 20-APR-23