Business
Michel Baribeau sells shares of X-Terra Resources Inc.
Michel Baribeau sells shares of X-Terra Resources Inc. Michel Baribeau sells share...
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[{"type":"text","content":"\n\n\n\nMichel Baribeau sells shares of X-Terra Resources Inc.\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nMichel Baribeau sells shares of X-Terra Resources Inc.\nCanada NewsWire\nROUYN-NORANDA, QC, July 14, 2016\n\n\n\nROUYN-NORANDA, QC, July 14, 2016 /CNW Telbec/ - Michel Baribeau announces that he has sold 575,000 common shares of X-Terra Resources Inc. (\"X-Terra\") at an average price of $0.19 per share, representing approximately 6% of the issued and outstanding common shares of X-Terra.\n\nImmediately prior to the transaction described herein, Michel Baribeau owned or had control or direction, directly or indirectly, over an aggregate of 1,365,000 common shares of X-Terra, representing approximately 14.25% of the issued and outstanding common shares, and 500,000 common share purchase warrants of X Terra, representing approximately 29.41% of all issued and outstanding warrants of X-Terra. Assuming the exercise of all warrants held by Mr. Baribeau, he would have owned, directly or indirectly, 1,865,000 common shares of X-Terra, representing approximately 18.51% of the X-Terra common shares that would have then been issued and outstanding.\n\nImmediately after the transaction, Michel Baribeau owns or has control or direction, directly or indirectly, over an aggregate of 790,000 common shares of X-Terra, representing approximately 8.25% of the issued and outstanding common shares of X-Terra, and 500,000 common share purchase warrants of X-Terra, representing 29.41% of the issued and outstanding warrants of X-Terra. Assuming the exercise of all warrants held by Mr. Baribeau, he would own, directly or indirectly, 1,290,000 common shares, representing 12.80% of the X-Terra common shares that would then be issued and outstanding.\n\nThe common shares were disposed of for investment purposes, and in accordance with applicable securities laws, Mr. Baribeau may, from time to time and at any time, acquire additional common shares of X-Terra and/or other equity, debt or other securities or instruments of X-Terra in the open market or otherwise, and he reserv...