X-Terra Resources Announces Closing of a Private Placement
X-Terra Resources Announces Closing of a
Private Placement
ROUYN-NORANDA, QC
, April 1, 2019 /CNW Telbec/ - X-Terra Resources Inc. (TSXV: XTT) and
(FRANKFURT: XTR1) is pleased to announce that it has completed a private placement by issuing
3,833,332 units at a price of
$0.12
per unit, for gross proceeds to X-Terra Resources of
$460,000
.
Each of the units is comprised of one common share and one common share purchase warrant of X-
Terra Resources. Each warrant entitles its holder to acquire one additional common share X-Terra
Resources at a price of
$0.20
until April 1, 2021.
X-Terra Resources will use the proceeds from this private placement for exploration on of its mining
properties and for working capital purposes.
In connection with the private placement, X-Terra Resources paid cash sales commissions to Leede
Jones Gable Inc., PI Financial Corp. and Canaccord Genuity Corp. (collectively, the "finders") in an
aggregate amount of
$21,360
. In addition, X-Terra Resources granted non-transferable broker
warrants to the Finders entitling them to acquire up to an aggregate of 178,000 additional common
shares of X-Terra Resources at a price of
$0.20
per share until April 1, 2021.
As a result of the private placement, there are 35,731,721 common shares of X-Terra Resources
issued and outstanding on a non-diluted basis. Under applicable securities legislation and the
policies of the TSX Venture Exchange, the securities issued in the private placement are subject to a
four-month hold period, expiring on August 2, 2019.
X-Terra also expects, subject to approval of the TSX Venture Exchange, to complete shortly the
initial closing of its option to acquire from NBGold Inc. a 70% interest in four mining properties (the
"Properties") located in
New-Brunswick
(see X-Terra Resources' press release dated
February 4,
2019
).
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,
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 acquisition of the Properties, the
development of the Properties, or if any of them do so, what benefits X-Terra will derive from the
Properties. 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's Annual
Report for the fiscal year ended
December 31, 2017
, 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 does not intend, nor does X-Terra 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.
About X-Terra Resources Inc.
X-Terra Resources is a resource company focused on acquiring and exploring precious metals and
energy properties in
Canada
. X-Terra Resources currently has 35,731,721 common shares issued
and outstanding.
Website:
www.xterraresources.com
SOURCE
X-Terra Resources Inc.
View original content:
http://www.newswire.ca/en/releases/archive/April2019/01/c3698.html
%SEDAR: 00035962E
For further information:
Mr. Michael Ferreira, President & Chief Executive Officer, 139 Québec
Avenue, Suite 202, Rouyn-Noranda, Québec, J9X 6M8, Telephone: 819-762-4101 | Fax: 819-762-
0097, E-mail: [email protected]
CO: X-Terra Resources Inc.
CNW 18:23e 01-APR-19