Xander Resources Announces Closing of Non-Brokered Private Placement

2021-01-19 / @thenewswire

(TheNewswire)

Vancouver, British Columbia - TheNewswire - January 18, 2021 - Xander Resources Inc. (TSXV:XND) (FSE:1XI) (OTC:XNDRF) (the “Company”) announces that, further to its news release of December 18, 2020 and subject to the approval of the TSX Venture Exchange, it has closed its non-brokered private placement (the “Private Placement”) issuing a total of 1,527,780 flow-through units (the “Units”) at a price of $0.18 per Unit for total gross proceeds of $275,000.40.

Each Unit consists of one flow-through common share and one-half of one non-flow through common share purchase warrant (each whole warrant, a “Warrant”). Each whole Warrant entitles the holder 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 and 111,111 finder warrants (the “Finder’s Warrants”) to Qwest Investment Fund Management Ltd. The Finder’s Warrants are non-transferable and exercisable at $0.18 per Finder’s Warrant for a period of two years.

All securities issued in connection with the Private Placement will be subject to a 4-month hold period in Canada. The Company will use the gross proceeds of the Private Placement for exploration of mineral properties.

ON BEHALF OF THE BOARD OF DIRECTORS

James Hirst, CEO and Director
Email: jimh@xanderresources.ca
Website: www.xanderresources.ca

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.