XME

Xmet Inc. (TSX VENTURE:XME)(OTCQX:XMTTF) ("Xmet") is pleased to announce that,
subject to the acceptance of the TSX Venture Exchange (the "Exchange"), it has
closed a second and final tranche of a non-brokered private placement offering
of 1,600,000 common shares and 120,000 share purchase warrants in the capital of
Xmet at a price of $0.125 per Share for aggregate gross proceeds of $200,000
(the "Second Closing"). The Second Closing was composed of 1,360,000 common
shares issued on a flow through basis and 240,000 units issued on a non-flow
through basis, with each unit composed of one common share and one half of a
common share purchase warrant entitling the holder to purchase one common share
at $0.19 for one year from closing. Certain directors and officers of Xmet
participated in the final tranche of the financing. 


"As referred to in our news release of December 23, 2013, completion of this
financing will enable us to follow up on the multiple anomalies that we
discovered during our previous airborne geophysical work. With this financing
now closed our focus is now solely on developing the Blackflake project and to
aggressively work towards implementation of our drill program." said Alexander
Stewart, Chairman and CEO of Xmet.


The securities issued in connection with the Second Closing will be subject to a
four month hold period expiring on May 1, 2014. In connection with the Second
Closing, Xmet paid a cash finder's fee of $11,725 (equal to 7% of a portion of
the aggregate gross proceeds raised on the Second Closing). 


Neither 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.


Certain information in this press release may contain forward-looking
statements. This information is based on current expectations that are subject
to significant risks and uncertainties that are difficult to predict. Actual
results might differ materially from results suggested in any forward-looking
statements. Xmet assumes no obligation to update the forward-looking statements,
or to update the reasons why actual results could differ from those reflected in
the forward looking-statements unless and until required by securities laws
applicable to Xmet. Additional information identifying risks and uncertainties
is contained in filings by Xmet with Canadian securities regulators, which
filings are available under Xmet's profile at www.sedar.com. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
For the latest updates, please contact: Xmet Inc.
Alexander Stewart
Chief Executive Officer
(416) 644-6588
astewart@xmet.ca


Xmet Inc.
Stephen Stewart
President
(416) 644-6588
sstewart@xmet.ca
www.xmet.ca

Xmet Inc. (TSXV:XME)
Historical Stock Chart
From Jun 2024 to Jul 2024

Xmet Inc. (TSXV:XME)
Historical Stock Chart
From Jul 2023 to Jul 2024