TORONTO, Aug. 28 /CNW/ - Xtierra Inc. (TSXV - XAG) ("Xtierra" or the
"Company"), announces it has engaged T2W Market Liquidity ("T2W") effective
September 1, 2009, to provide market liquidity services for its common shares
listed on the TSX Venture Exchange ("TSXV"). The term of the engagement is for
a minimum of 12 months and is renewable thereafter on a month to month basis.
T2W is a Mississauga based private company which is in the business of
providing market liquidity services to listed issuers. Harold Hoff, the
principal of T2W who will be directly responsible for Xtierra has more than 10
years experience as a pro trader and market maker for a major, bank owned
In consideration of the provision of these market liquidity services,
Xtierra will remunerate T2W on a monthly flat fee basis, payable in cash.
Anticipated costs to Xtierra for the first year of the contract are $30,000
plus applicable taxes. T2W's remuneration is in no way contingent upon the
market price or trading volume of Xtierra's common shares on the TSXV.
The market liquidity services to be provided include:
1. Maintaining a consistent and reasonable bid and offer spread for
Xtierra's common shares;
2. Maintaining a reasonable board lot size for the bids and offer; and
3. Maintaining reasonable open orders at depth behind the best bid and
T2W is entirely independent of Xtierra and will at all times be trading
as principal for its own account and using its own capital. T2W's experienced
trading staff will use their knowledge and discretion in providing these
services and no assurance has been made as to any particular effect or result
regarding the market for Xtierra's common shares. T2W has covenanted to
operate in accordance with best trading practices at all times.
About Xtierra Inc.
Xtierra Inc. is a Toronto based exploration and development company
listed on the TSX Venture Exchange. Xtierra's shares trade under the symbol
"XAG". Xtierra has 49,862,003 shares issued and outstanding. Xtierra has
recently commenced a first phase feasibility study on its 100% owned Bilbao
silver-zinc-copper project in Zacatecas, Mexico. Xtierra's objective is to
become a mid-tier producer of silver and base metals through the development
of its Bilbao and Laguna projects, both located in the Central Mexican Silver
Belt in the State of Zacatecas, as well as through organic growth and M & A
Neither the TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or the accuracy of this release.
For further information:
For further information: visit www.xtierra.ca or contact: Terence
McKillen, President & Chief Executive, (416) 362-8243; Tim Gallagher,
Director, (416) 925-0090; Alejandro Alaniz, Director Finance & Administration
(Mexico), +52 (492) 925-0804