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Xander Resources Announces Closing of Non-Brokered Private Placement and Grants Options
(TheNewswire) TheNewswire - October 13, 2021 - Xander Resources I...
About this update from Core Critical Metals Corp.
[{"type":"text","content":"Xander Resources Announces Closing of Non-Brokered Private Placement and Grants Options\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n TheNewswire -\n \n \n October 13, 2021\n \n \n -\n \n \n Xander Resources\nInc\n \n \n .\n \n \n (TSXV:XND) (FSE:1XI)\n \n \n (OTC:XNDRF)\n \n \n (“\n \n \n Xander\n \n \n ” or the\n“\n \n \n Company\n \n \n ”)\n \n \n announces that, subject to the\napproval of the TSX Venture Exchange (the “\n \n \n Exchange\n \n \n ”) it has\nclosed its non-brokered private placement (the “\n \n \n Private Placement\n \n \n ”)\nissuing an aggregate of 4,200,000 units (each a “\n \n \n Unit\n \n \n ”) of the\nCompany at a price of $0.10 per Unit raising gross proceeds of up to\n$420,000 (the “\n \n \n Proceeds\n \n \n ”).\n \n \n \n \n Each Unit consists of one common share (a\n“\n \n \n Share\n \n \n ”) and one transferable share purchase warrant exercisable\nat $0.20 per Share for a period of two (2) years from the date of\nclosing of the Private Placement.\n \n \n \n \n Deepak Varshney, the President, CEO and a director of\nthe Company, subscribed for 500,000 Units, Dwayne Yaretz, Corporate\nSecretary and a director of the Company subscribed for 50,000 Units\nand James Hirst, a director of the Company, subscribed for 100,000\nUnits.  As a result, the Private Placement is a related party\ntransaction (as defined under Multilateral Instrument 61-101\nProtection of Minority Security Holders in Special Transactions\n(“\n \n \n MI 61-101\n \n \n ”)).  The Company relied upon section 5.5(a) and 5.7(a) as\nneither the fair market value of the subject matter of, nor the fair\nmarket value of the consideration for, the Private Placement exceeds\n25 percent of the Company’s market capitalization (calculated in\naccordance with MI 61-101).\n \n \n \n \n The Proceeds from the Private Placement will be used\nfor exploration\n \n \n on the Company’s portfolio of\nproperties\n \n \n and for general working\ncapital.\n \n \n \n \n All securities issued are subject to a four\n \n \n month hold period in Canada and the Exchange\nHold Period\n \n \n .  No finder’s fees were paid in\nconnection with the Private Placement.\n \n \n \n \n The Company also announces that it has gr...