Xplore Resources Announces Closing of Non-Brokered Private Placement
Xplore Resources Announces Closing of
Non-Brokered Private Placement
VANCOUVER, BC, May 10, 2024 - Xplore Resources Corp. (TSX-V: XPLR) (“Xplore” or the
“Company”) announces that it has closed its previously announced private placement of
21,050,000 units of the Company at a price of $0.10 per unit for gross aggregate proceeds of
$2,105,000 (the “Placement”). Each unit consists of one common share of the Company and one
non-transferable share purchase warrant, with each warrant exercisable to acquire one additional
common share of the Company for a period of two years from the date of issuance at a price of
$0.15 per share.
Net proceeds raised under the Placement will be used to extinguish debt, for exploration work on
the Company’s exploration properties and for general working capital.
All securities issued pursuant to the Placement, including any shares issuable on exercise of the
warrants, are subject to a hold period until September 10, 2024 pursuant to applicable securities
law and the policies of the TSX Venture Exchange.
About Xplore Resources
Xplore Resources is a North American lithium exploration company listed on the TSX Venture
Exchange under symbol XPLR. The Company has a prospective land package in the emerging
Root Bay lithium district located in northwest Ontario. Xplore’s flagship property is the Surge
lithium project, on trend and near two lithium deposits and just 25 m from a new lithium discovery.
The Company is led by a highly experienced management team with a strong track record of
growing shareholder value.
For further information, please contact:
ON BEHALF OF THE BOARD
Dominic Verdejo, Chief Executive Officer
For further information, please contact:
Phone: +1 647-362-9675
Email: [email protected]
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 THIS RELEASE
Cautionary Note regarding Forward-Looking Statements
Statements contained in this press release that are not historical facts are “forward-looking information” or
“forward-looking statements” (collectively, “Forward-Looking Information”) within the meaning of applicable
Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995.
Forward-Looking Information in the news release includes, but is not limited to, the anticipated use of
proceeds from the Placement. The words “anticipate,” “significant,” “expect,” “may,” “will” and similar
expressions are intended to be among the statements that identify Forward-Looking Information. Forward-
Looking Information is subject to known and unknown risks, uncertainties and other factors that may cause
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actual results to differ materially from those implied by the forward-looking information. In preparing the
Forward-Looking Information in this news release, the Company has applied several material assumptions,
including, but not limited to, assumptions that general business and economic conditions will not change in
a materially adverse manner; that all requisite approvals will be received and all requisite information will
be available in a timely manner. Factors that may cause actual results to vary materially include, but are
not limited to, inaccurate assumptions concerning the exploration for and development of mineral deposits,
currency fluctuations, unanticipated operational or technical difficulties, risks related to unforeseen delays;
general economic, market or business conditions, regulatory changes; timeliness of regulatory approvals,
the risks of obtaining necessary licenses and permits, changes in general economic conditions or conditions
in the financial markets and the inability to raise additional financing. Readers are cautioned not to place
undue reliance on this Forward-Looking Information. The Company does not assume the obligation to
revise or update this Forward-Looking Information after the date of this release or to revise such information
to reflect the occurrence of future unanticipated events, except as may be required under applicable
securities laws.