Xander Resources Inc. Announces Closing of Private Placement
#200 – 905 W. Pender Street Vancouver, BC V6C 1L2
FOR IMMEDIATE RELEASE August 30, 2018
Xander Resources Inc. Announces Closing of Private Placement
Xander Resources Inc. (TSX‐V: XND) (the “Company”) is pleased to announce that further to its news releases dated June 19, 2018 and August 3, 2018, it has closed its non‐brokered private placement offering (the “Offering”) for aggregate gross proceeds of CDN$102,000 comprised of 1,020,000 Units at a price of CDN$0.10 per Unit.
Each Unit of the Offering consists of one common share in the capital of the Company (each, a “Common Share”) and one‐half of one non‐transferable common share purchase warrant, with each whole common share purchase warrant (each, a “Warrant”) being exercisable into one Common Share at a price of CDN$0.20 per share for a two‐year period from the closing of the Offering (the “Closing”).
In connection with the Closing, the Company paid aggregate cash finder’s fees of $7,360 and issued an aggregate of 73,600 share purchase warrants (the “Finder’s Warrants”) to certain finders, in accordance with the policies of the TSX Venture Exchange (the “Exchange”). Each Finder’s Warrant entitles the holder to purchase one additional common share at a price of $0.20 per common share for a period of two years from the Closing.
All securities issued in the Offering are subject to a statutory hold period expiring December 31, 2018.
Management anticipates that the Company will allocate the net proceeds of the Offering as follows: 60% to identify and consummate acquisition opportunities; and 40% for general working capital purposes.
The securities offered hereby have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or the securities laws of any state of the United States. This notice does not constitute an offer to sell or a solicitation of an offer to buy any of the securities offered hereby within the United States, and the securities offered herein may not be offered or sold in or into the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws, or pursuant to an exemption from such registration requirements “United States” and “U.S. person” are as defined in Regulation S under the U.S. Securities Act.
On behalf of the Board of Directors,
“Bryce Clark”
Bryce Clark, Chief Executive Officer Tel: 604 683‐0343 Fax: 604‐683‐4499 Email: [email protected] Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
Disclaimer for Forward‐Looking Information
This news release contains forward‐looking statements that involve various risks and uncertainties regarding future events. Such forward‐looking statements are based on current expectations of management, involve a number of risks and uncertainties, and are not guarantees of future performance of the Company. These statements generally can be identified by the use of forward‐looking words such as “may”, “should”, “will”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward‐looking statements in this news release include statements regarding the proposed allocation of the net proceeds of the Offering. Forward‐ looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors that may cause actual results and future events to differ materially from those expressed or implied by such forward‐looking statements. Factors that could cause actual results or events to differ materially from current expectations include general market conditions and other factors beyond the control of the Company. The Company expressly disclaims any intention or obligation to update or revise any forward‐ looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.