(TheNewswire)
Vancouver, British Columbia / June 3,2024 – TheNewswire – Xander Resources Inc.(“Xander” or the “Company”) (TSXV: XND) (FSX: 1XI) announces that it intends to seek approval fromits shareholders at the Company's upcoming annual general and specialmeeting (the “ Meeting ”) for a proposed consolidation ofits issued and outstanding common shares (the “ Shares ”) on thebasis of up to ten (10) existing Shares for one (1) new Share (the“ Consolidation ”).
Under the Consolidation, for every ten (10) Sharescurrently held by a shareholder (or such number as may be applicablein the event that the directors of the Company determine to employ aConsolidation ratio that is less than on a ten to one (10:1) basis),each shareholder will, as a result of the Consolidation, receive oneShare after the Consolidation takes effect. There are currently13,272,009 Shares issued and outstanding. If the Consolidation isapproved by the shareholders of the Company and the TSX VentureExchange (the “ Exchange ”) and the directors effect theConsolidation on a 10:1 basis, there will be an aggregate of 1,327,201Shares issued and outstanding in the capital of the Company, subjectto rounding.
Notwithstanding the foregoing, the directors maydetermine not to implement the Consolidation at any time after theMeeting and after receipt of necessary regulatory approvals withoutfurther action on the part of the shareholders. The Consolidation issubject to approval by the Exchange.
About Xander Resources Inc.
Xander is a Canadian mineral acquisition andexploration company based in Vancouver, B.C., 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 commerciallyexploitable mineral deposits and is currently focused on depositslocated in Val d'Or, Que., including the Senneville claim group, whichcomprises over 100 square kilometres and is contiguous in the south toProbe Metals' new discovery and contiguous in the north to MonarchMining, in close proximity to the Crawford project.
ON BEHALF OF THE BOARD OFDIRECTORS
Deepak Varshney, P.Geo., Presidentand CEO
For more information, please email info@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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