XND:CC - Xander Resources Announces Additional Non-Brokered Private Placement and Increase in Private Placement
(TheNewswire)
Vancouver, B C - TheNewswire - December 19, 2022 - Xander Resources Inc. (“Xander” or the “Company”) (TSXV:XND)(OTC:XNDRF) (FSX:1XI), a North American mineralacquisition and exploration company focused on the development ofdrill-ready battery and precious metal projects, is pleased toannounce that, further to its news release of November 17, 2022,wherein the Company announced that it is proceeding with anon-brokered private placement (the “ Private Placement ”)raising up to $600,000 through the issuance ofup to 17,142,857 flow-through units (the “ FT Units ”) at aprice of $0.035 per FT Unit, it has increased the Private Placement toup to a total of $650,000 from the previously announced $600,000. Allother aspects of the Private Placement remain the same as disclosed inthe November 17 th news release.
Furthermore, the Company is also pleased to announce itwill also be completing a Private Placement of up to 1,714,285 nonflow-through units (the “ Units ”) at a price of $0.035 per Unit foraggregate gross proceeds of up to $60,000. Each Unit will consist ofone common share (a “ Share ”) and one transferable common sharepurchase warrant exercisable at $0.07 per Share for a period of three(3) years from the closing date of the Private Placement of Units. Theproceeds from the Private Placement will be used for general workingcapital including payment of finders fees associated with the on-goingfinancings.
The FT Shares will qualify as flow-through shares forpurposes of the Income TaxAct (Canada) . The proceeds raised from thesale of the Private Placement of FT Shares will be used by the Companyto fund exploration programs that qualify as “Canadian ExplorationExpenses” and “flow-through mining expenditures”, as those termsare defined in the IncomeTax Act (Canada) , and, in particular, Xander’sTimmins Nickel Project. The Company will renounce said expendituresto the investors for the taxation year ending December 31,2022.
Finder’s fees may be payable on closing of thePrivate Placements to qualified parties in accordance with thepolicies of the TSX Venture Exchange (the“ Exchange ”).
All securities issued in the Private Placements aresubject to the Exchange hold period, plus a hold period of four monthsand one day following the closing date of the Private Placements.
The Private Placements are subject to approval of the Exchange.
About Xander Resources Inc.
Xander Resources Inc. is a Canadian mineral acquisitionand exploration company based in Vancouver, BC, Canada focused ondeveloping accretive gold and battery metal properties within Canada.The Company currently has a focus on projects located within theProvinces of Ontario and Quebec.
Xander is exploring for commercially exploitablemineral deposits and is currently focused on deposits located inVal-d’Or, Quebec, including the Senneville Claim Group whichcomprises over 100 sq. km and is contiguous in the south to ProbeMetals’ new discovery, and contiguous in the north to MonarchMining, in close proximity to Eldorado Gold’s (formerly QMX Gold)projects, and east of the North American Lithium Deposit, GreatThunder Gold’s Chubb Lithium property and East of the SayonaQuebec's Authier Lithium Deposit, all in the Val-d’Or Mining Camp,plus its newly acquired nickel-sulphide project in Timmins, Ontarionear Canada Nickel’s MacDiarmid and Crawford Projects.
ON BEHALF OF THE BOARD OFDIRECTORS
Deepak Varshney, P.Geo., Presidentand CEO
For more information, please email ir@xanderresources.ca , or visit www.xanderresources.ca .
Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in policies ofthe TSX Venture Exchange) accepts responsibility for the adequacy oraccuracy of this release.
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