Xander Resources Closes Financing of $400,000 With Palisades Goldcorp
Vancouver, October 1, 2020 - Xander Resources Inc. (TSXV:XND) (FSE:1XI) (the "Company") announces that, subject to the approval of the TSX Venture Exchange (the "Exchange"), it proposes to issue up to 2,000,000 units (the "Units") at a price of $0.20 per Unit for aggregate gross proceeds of $400,000 through a non-brokered private placement (the "Private Placement"). The Company has secured a lead order from Palisades Goldcorp Ltd. in the Private Placement. Each Unit will consist of one common share (a "Share") and one non-transferable common share purchase warrant (a "Warrant") with each Warrant exercisable for three (3) years from the date of closing of the Private Placement at an exercise price of $0.30 per Warrant.
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 and for general working capital.
About Palisades Goldcorp.
Palisades Goldcorp is Canada's resource focused merchant bank. Palisades' management team has demonstrated track record of making money and is backed by many of the industry's most notable financiers. With junior resource equities valued at generational lows, management believes the sector is on the cusp of a major bull market move. Palisades is positioning itself with significant stakes in undervalued companies and assets with the goal of generating superior returns.
ON BEHALF OF THE BOARD OF DIRECTORS
James Hirst, CEO and Director
Tel: (778) 709-3398
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.
Pour les communications en francais de Xander Resources :
Remy Scalabrini
Maricom Inc.
Tel : (888) 585-6274
Courriel : rs@maricom.ca
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