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X-Terra Resources Announces Final Closing of Private Placement for an Additional $77,500
ROUYN-NORANDA, QC, Dec. 31, 2020 /CNW/ - X-Terra Resources Inc. (TSXV: XTT) (FRANKFURT: XTR) ("X-Terra") is please to announce that is has held a final closing
About this update from Comet Lithium Corp
[{"type":"text","content":" ROUYN-NORANDA, QC, Dec. 31, 2020 /CNW/ - X-Terra Resources Inc. (TSXV: XTT) (FRANKFURT: XTR) (\"X-Terra\") is please to announce that is has held a final closing of its previously-announced non-brokered private placement at which it issued 500,000 units at a price of $0.155 per unit, for aggregate gross proceeds to X-Terra of $77,500. Each of the 500,000 units is comprised of one federal \"flow-through\" common share and one-half of a common share purchase warrant. Each whole warrant entitles its holder to acquire one additional common share of X-Terra at a price of $0.20 for a period of 24 months from the closing date. X-Terra intends to use the proceeds from the private placement for exploration on certain of its mining exploration properties in Québec and New Brunswick. In connection with the private placement, X-Terra paid cash commissions to a securities dealer in an aggregate amount of $5,425. In addition, X-Terra granted finders' options to Mackie Research Capital Corporation entitling to acquire up to 35,000 additional common shares of X-Terra at a price of $0.155 per share for a period of 24 months. As a result of the final closing of the private placement, there are 78,453,267 common shares of X-Terra issued and outstanding. Under applicable securities legislation, the securities issued in the private placement are subject to a four-month hold period, expiring on May 1, 2021. About X-Terra Resources Inc. X-Terra Resources is a resource company focused on acquiring and exploring precious properties in Canada. Forward-Looking Statements This news release contains statements that may constitute \"forward-looking information\" within the meaning of applicable Canadian securities legislation. Forward-looking information may include, among others, statements regarding the future plans, costs, objectives or performance of X-Terra Resources, or the assumptions underlying any of the foregoing. In this news release, words such as \"may\", \"would\", \"could\", \"will\", \"likely\", \"believe\", \"expect\", \"anticipate\", \"intend\", \"plan\", \"estimate\" and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or ...