(TheNewswire)
Vancouver, British Columbia - TheNewswire - January 18, 2021 - Xander Resources Inc.(TSXV:XND) (FSE: 1XI ) (OTC:XNDRF) (the“Company”) announces that, further to itsnews release of December 18, 2020 and subject to the approval of theTSX Venture Exchange, it has closed its non-brokered private placement(the “ PrivatePlacement ”) issuing a total of 1,527,780flow-through units (the “ Units ”) at a price of $0.18 per Unit fortotal gross proceeds of $275,000.40.
Each Unit consists of one flow-through common share andone-half of one non-flow through common share purchase warrant (eachwhole warrant, a “ Warrant ”). Each whole Warrant entitles theholder to purchase one additional common share (each, a“ Share ”) at a price of $0.26 per Share for a period of two years.
The Company paid finder’s fees totalling $20,000 and111,111 finder warrants (the “ Finder’s Warrants ”) to Qwest InvestmentFund Management Ltd. The Finder’s Warrants are non-transferableand exercisable at $0.18 per Finder’s Warrant for a period of twoyears.
All securities issued in connection with the PrivatePlacement will be subject to a 4-month hold period in Canada. TheCompany will use the gross proceeds of the Private Placement forexploration of mineral properties.
ON BEHALF OF THE BOARD OFDIRECTORS
James Hirst, CEO and Director
Email: jimh@xanderresources.ca
Website: www.xanderresources.ca
Neither TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this release.
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