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Xali Gold Closes First Tranche of Private Placement for $1.5 Million
Not for dissemination in the United States or for distribution to U.S. Newswire Services VANC...
About this update from Xali Gold Corp.
[{"type":"text","content":"Xali Gold Closes First Tranche of Private Placement for $1.5 Million\nNot for dissemination in the United States or for distribution to U.S. Newswire Services VANCOUVER, British Columbia, Dec. 24, 2025 (GLOBE NEWSWIRE) -- Xali Gold Corp. (TSXV:XGC) (“Xali Gold” or the “Company”) is pleased to announce the closing on December 23rd, 2025, of the first tranche of the previously announced non–brokered private placement (the “Private Placement”) for gross proceeds of C$1.5 million. A second tranche of up to C$0.5 Million is planned to close in early January 2026. The net proceeds from the Private Placement will be used to cover the US$500,000 payment (the “Payment”) due to Pan American Silver Corp. (“Pan American”) for the closing of the acquisition of the Pico Machay Gold Property (“Pico Machay” or the “Property”), an advanced exploration stage project in Peru with a near-term production goal, as announced in the Company’s October 24th, 2025 news release. In addition to the Payment, the proceeds will also be allocated to the exploration of Pico Machay and working capital and general corporate purposes. “The successful progress of this Private Placement allows us to move ahead with the Pico Machay acquisition and execute on the next phase of our growth strategy,” said Joanne Freeze, Xali Gold President and CEO. “We are excited about the opportunities this transaction presents for the Company.” The Private Placement resulted in the issuance of 15,000,000 units (the “Units”), with each unit consisting of one common share and one-half of one common share purchase warrant (each full common share purchase warrant, a “Warrant”) at a price of $0.10 per Unit. Each Warrant will be exercisable for one additional share of the Company (a “Warrant Share”) for 18 months at a price of C$0.20 per Warrant Share, subject to an Accelerated Expiry (as defined below). If at any time after April 24, 2026, the Company’s common shares have a closing price on the TSX Venture Exchange (“TSX-V”) at or above a price of C$0.30 per share for a period of 10 consecutive trading days, the Company may give notice by news release that the expiration of the Warrants wil...