Xander Resources Closes Flow-Through Financing of $275,000.40 With Probity Mining 2020-II 'et al'

2020-12-19 / @thenewswire

(TheNewswire)

Vancouver, British Columbia / TheNewswire / December 18, 2020 - Xander Resources Inc. (TSXV:XND) (FSE: 1XI) (OTC:XNDRF) (the “Company”) announces that, subject to the approval of the TSX Venture Exchange (the “Exchange”), it proposes to issue up to 1,527,780 units (the “Units”) at a price of $0.18 per Unit for aggregate gross proceeds of $275,000.40 through a non-brokered flow-through private placement (the “Private Placement”). The Company has secured a lead order from Probity Mining 2020-II Short Duration Flow-Through Limited Partnership in the Private Placement. The Company will use the gross proceeds of the Private Placement for exploration of Mineral Properties.

Each Unit consists of one Flow-through common share and one-half of one non-flow through common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share at a price of $0.26 per share for a term of two years. Finder’s Fees totalling $20,000.00 cash and 111,111 finder warrants exercisable for two (2) years at $0.18 are payable to Qwest Investment Fund Management Ltd.

About Probity Mining 2020-II Short Duration Flow-Through Limited Partnership

Probity Mining 2020-II Short Duration Flow-Through Limited Partnership is a limited partnership formed under the laws of British Columbia. It has filed a prospectus in all the jurisdictions of Canada pursuant to which it is offering six different classes of limited partnership units to its investors. Its investment objective is to provide its limited partners with a tax-assisted investment in a diversified portfolio of flow-through shares of resource issuers engaged in the mining sector incurring eligible expenditures under the Income Tax (Canada).

ON BEHALF OF THE BOARD OF DIRECTORS

Jim 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.