XND:CC - Xander Resources Completes Shares for Debt Transactions
(TheNewswire)
Vancouver, B C - TheNewswire - April 14, 2023 - Xander Resources Inc. (“Xander” or the “Company”) (TSXV:XND)(OTC:XNDRF) (FSX:1XI) , ispleased to announce that the Company has completed two shares for debtsettlements that were previously announced on March 16, 2023 (the“ Shares for DebtSettlements ”), after being granted approval bythe TSX Venture Exchange (“ TSXV ”). Theoutstanding debt was owed to consultants of the Company as part oftheir severance packages.
Pursuant to the Shares for Debt Settlements, theCompany has issued a total of 2,210,198 of its common shares (the“ SettlementShares ”) at a deemed price of $0.035 per sharefor an aggregate amount of $77,356.93. The Settlement Shares aresubject to a four month and one day hold period expiring on August 14,2023. The Shares for Debt Settlements aresubject to final approval of the TSXV. The Settlement Shares have notand will not be registered under the U.S. Securities Act of 1933, asamended, or any state securities laws.
1,105,099 of the Settlement Shares were issued toDwayne Yaretz, a current director of the Company (the “ Insider Participation ”). The Insider Participation is considered to be a“related party transaction” as defined under MultilateralInstrument 61-101 – Protection of Minority Security Holders in SpecialTransactions (“ MI 61-101 ”). TheInsider Participation is exempt from the formal valuation and minorityshareholder approval requirements of MI 61-101. The Company did notfile a material change report more than 21 days before closing theShares for Debt Settlements as the details of the abovementionedInsider Participation were not settled until shortly prior to closing,and the Company wished to close the Shares for Debt Settlements on anexpedited basis.
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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