X1 Entertainment Announce Private Placement
X1 Announces Non-Brokered Unit Financing
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR
DISSEMINATION IN THE UNITED STATES
VANCOUVER, BC – June 18, 2024 – X1 Entertainment Group Inc. (CSE:XONE; OTCQX:
XOEEF; FSE: QN9) (“X1” or the “ Company”) is pleased to announce a non-brokered private
placement of 8,000,000 units of the Company (the “Units”) at a price of $0.25 per Unit for gross
proceeds of up to $2,000,000 (the “Offering”). Each Unit will be comprised of one common share
in the capital of the Company (a “ Share”) and one Share purchase warrant (a “ Warrant”). Each
Warrant will entitle the holder thereof to acquire one additional Share (a “ Warrant Share”) at a
price of $0.30 per Warrant Share for a period of 24 months from the date of closing (the “Closing
Date”).
The Company intends to use the net proceeds from the Offering for (i) expenses incurred in
connection with the Company’s acquisition of the Manson Bay Property and change of business
to a mineral exploration company (the “COB”), as set out its news release dated February 7,
2024, (ii) completion of the work program on the Manson Bay Property, (iii) consulting,
management, and director fees, (iv) marketing and investor relations, and (v) general and
administrative expenses.
The Company may, in its sole discretion, increase the size of the Offering to up to $3,000,000
based on market conditions and investor demand.
Closing of the Offering will occur only following shareholder approval of the COB and is intended
to complete concurrently with completing the COB, which also requires the approval of the
Canadian Securities Exchange (the “CSE”). The Company may pay a finder’s fee in connection
with the Offering to eligible arm’s length finders in accordance with the policies of the CSE. All
securities issued in connection with the Offering will be subject to a statutory hold period of four
months and one day following the Closing Date in accordance with applicable Canadian securities
laws.
The securities issued pursuant to the Offering have not been, and will not b e, registered under
the United States Securities Act of 1933, as amended, and may not be offered or sold within the
United States or to, or for the account or benefit of, U.S. persons in the absence of U.S.
registration or an applicable exemption from the U.S. registration requirements. This news release
shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale
of the securities in the United States or in any other jurisdiction in which such offer, solicitation or
sale would be unlawful.
About X1
X1 Entertainment Group Inc. is a public company based in Vancouver, BC whose common shares
are listed on the Canadian Securities Exchange under the ticker symbol (CSE:XONE). The
Company has entered into a definitive asset purchase agreement with SKRR Exploration Inc
pursuant to which the Company has agreed to acquire a 100% legal and beneficial interest in
thirteen (13) contiguous mineral claims totaling 4,293.213 hectares located in the Province of
Saskatchewan known as the Manson Bay Property.
For more information, please contact:
Latika Prasad
CEO and Director
For enquiries, please call 604- 229-9445 or toll free 1- 833-923-3334 or email [email protected].
www.X1Ent.com
This news release contains “forward-looking information” which may include, but is not limited to,
statements with respect to the completion of the Offering and the anticipated use of proceeds
from the Offering. Often, but not always, forward-looking statements can be identified by the use
of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”,
“intends”, “anticipates”, or “believes” or variations (including negative va riations) of such words
and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or
“will” be taken, occur or be achieved. A variety of factors, including known and unknown risks,
many of which are beyond our control, could cause actual results to differ materially from the
forward-looking information in this news release. Additional risk factors can also be found in the
Company’s public filings under the Company’s SEDAR + profile at www.sedarplus.ca. Forward-
looking statements contained herein are made as of the date of this news release and the
Company disclaims any obligation to update any forward-looking statements, whether as a result
of new information, future events or results or otherwise. There can be no assurance that forward-
looking statements will prove to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. The Company undertakes no obligation to
update forward-looking statements if circumstances, management’s estimates or opinions should
change, except as required by securities legislation. Accordingly, the reader is cautioned not to
place undue reliance on forward-looking statements.
The Canadian Securities Exchange has neither approved nor disapproved the information
contained herein and does not accept responsibility for the adequacy or accuracy of this news
release.