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ROUYN-NORANDA, QC, Dec. 30, 2019 /CNW Telbec/ - X-Terra Resources
Inc. (TSXV: XTT) (FRANKFURT: XTR) is pleased to announce that it
has held a final closing of its previously-announced non-brokered
private placement at which it issued 3,200,000 Quebec "flow-through" common shares at a price
of $0.125 per share for gross
proceeds to X-Terra Resources of $400,000. X-Terra Resources intends to use the
proceeds from the private placement for exploration on certain of
its mining exploration properties in Québec.
In connection with the private placement, X-Terra Resources paid
cash commissions to two securities dealers in an aggregate amount
of $24,000. As a result of the second
and final closing of the private placement, there are 58,795,053
common shares of X-Terra Resources issued and outstanding. Under
applicable securities legislation, the common shares issued in the
private placement are subject to a four-month hold period, expiring
on May 1, 2020.
About X-Terra Resources Inc.
X-Terra Resources is a resource company focused on acquiring and
exploring precious metals and energy properties in Canada.
Website: http://www.xterraresources.com/
SOURCE X-Terra Resources Inc.