Xali Gold closes First Tranche of Non-Brokered Private Placement
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Not for dissemination in the United States or for distribution to U.S. Newswire Services
Xali Gold closes First Tranche of Non-Brokered Private Placement
Vancouver, British Columbia, November 12, 2021. Xali Gold Corp. (TSXV:XGC) ("Xali Gold”
and/or the “Company”) is pleased to announce that it has completed a first tranche of its previously
announced (see the Company’s news release No. 105, dated October 19 th, 2021) non- brokered
private placement (the “Private Placement”), issuing 3,665,000 units (the “Units”) at a price of
$0.06 per Unit raising $219,900.
Each Unit consisted of one common share of the Company (a “Unit Share”) and one -half share
purchase warrant (each whole being a “Warrant”). Each Warrant will be ex ercisable for one
additional share of the Company’s common stock (a “Warrant Share”) for two years at a
conversion price of $0.12, subject to an acceleration provision. If at any time after March 30th,
2022, the Company’s common shares have a closing price on the TSX Venture Exchange at or
above a price of $0.20 per share for a period of 10 consecutive trading days, the Company may
give notice by news release that expiration of the Warrants will be accelerated to 40 days from the
date of providing such notice.
Both Unit Shares and Warrant Shares will be subject to a mandatory four month and one day hold
period commencing the day of closing of the Private Placement, November 10, 2021.
Joanne C. Freeze, President , CEO and director of the Xali Gold subscribed for and w as issued
1,165,000 Units. The Company is relying upon exemptions from the valuation and minority
shareholder approval requirements contained in sections 5.5(a) and 5.7(1)(a) of Multilateral
Instrument 61-101 - Protection of Minority Security Holders in Special Transactions.
The net proceeds of the Private Placement will be used to further our permitting and targeting for
drilling programs on our gold-silver projects, working capital and general corporate purposes.
The Private Placement is subject to TSX Venture Exchange (“TSXV”) final approval.
About Xali Gold
Xali Gold has launched a comprehensive growth strategy to acquire gold and silver projects
with near surface exploration potential, near -term production potential and previous mining
histories. Xali Gold plans to advance our growing bank of gold and silver assets internally and/or
with industry partners.
El Oro, remains as our flagship asset, as it i s a district scale gold project encompassing a well -
NEWS RELEASE
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known prolific high-grade gold-silver epithermal vein system in Mexico. The project covers 20
veins with past production and more than 57 veins in total, from which approximately 6.4 million
ounces of gold and 74 million ounces of silver were reported to have been produced from just two
of these veins (Ref. Mexico Geological Service Bulletin No. 37, Mining of the El Oro and
Tlapujahua Districts. 1920, T. Flores*). Modern understanding of such systems indicates that
several of the El Oro district’s veins hold excellent discovery potential.
Xali Gold is dedicated to being a responsible Community partner.
Joanne C. Freeze, P.Geo., President, CEO and Matthew Melnyk, CPG., Director Operations, are Qualified Persons as defined by
National Instrument 43-101 for the projects discussed above. Ms. Freeze and Mr. Melnyk have reviewed and approved the contents
of this release.
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this
release.
Forward-looking Information
This news release may contain forward-looking information (as such term is defined under Canadian securities laws)
including but not limited to the potential for discovery on the Victoria, El Dorado, Cocula and El Oro Properties and
other statements that a re not historical facts. While such forward- looking information is expressed by Xali Gold in
good faith and believed by Xali Gold to have a reasonable basis, they address future events and conditions and are
therefore subject to inherent risks and uncertainties including those set out in Xali Gold’s MD&A. Factors that cause
the actual results to differ materially from those in forward -looking information include, without limitation, gold
prices, results of exploration and development activities, regulatory changes, defects in title, availability of materials
and equipment, timeliness of government approvals, potential environmental issues, availability of capital and
financing and general economic, market or business conditions. Xali Gold expressly discl aims any intention or
obligation to update or revise any forward-looking information, whether as a result of new information, future events
or otherwise, except in accordance with applicable securities laws.
On behalf of the Board of Xali Gold Corp.
“Joanne Freeze” P.Geo.
President, CEO and Director
For further information please contact:
Joanne Freeze
President & CEO
Tel: + 1 (604) 689-1957
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