Xander Resources to Seek Approval for up to 10:1 Share Consolidation
Vancouver - Xander Resources Inc. ("Xander" or the "Company") (TSXV: XND) (FSX: 1XI) announces that it intends to seek approval from its shareholders at the Company's upcoming annual general and special meeting (the "Meeting") for a proposed consolidation of its issued and outstanding common shares (the "Shares") on the basis of up to ten (10) existing Shares for one (1) new Share (the "Consolidation"). Under the Consolidation, for every ten (10) Shares currently held by a shareholder (or such number as may be applicable in the event that the directors of the Company determine to employ a Consolidation ratio that is less than on a ten to one (10:1) basis), each shareholder will, as a result of the Consolidation, receive one Share after the Consolidation takes effect. There are currently 13,272,009 Shares issued and outstanding. If the Consolidation is approved by the shareholders of the Company and the TSX Venture Exchange (the "Exchange") and the directors effect the Consolidation on a 10:1 basis, there will be an aggregate of 1,327,201 Shares issued and outstanding in the capital of the Company, subject to rounding.
Notwithstanding the foregoing, the directors may determine not to implement the Consolidation at any time after the Meeting and after receipt of necessary regulatory approvals without further action on the part of the shareholders. The Consolidation is subject to approval by the Exchange.
About Xander Resources Inc.
Xander is a Canadian mineral acquisition and exploration company based in Vancouver, B.C., Canada, focused on developing accretive gold and battery metal properties within Canada. The company currently has a focus on projects located within the provinces of Ontario and Quebec. Xander is exploring for commercially exploitable mineral deposits and is currently focused on deposits located in Val d'Or, Que., including the Senneville claim group, which comprises over 100 square kilometres and is contiguous in the south to Probe Metals' new discovery and contiguous in the north to Monarch Mining, in close proximity to the Crawford project.
ON BEHALF OF THE BOARD OF DIRECTORS
Deepak Varshney, P.Geo., President and CEO
For more information, please email info@xanderresources.ca, or visit www.xanderresources.ca.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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