ROUYN-NORANDA, QC, Sept. 9 /CNW Telbec/ - X-Terra Resources Corporation
(XT-TSXV) announces that the TSX Venture Exchange has conditionally approved
its previously-announced normal course issuer bid. Under the normal course
issuer bid, X-Terra will be entitled to repurchase for cancellation a maximum
of 612,250 common shares over the twelve-month period starting on September
15, 2008 and ending on September 14, 2009, representing approximately 5% of
X-Terra's 12,245,069 issued and outstanding shares.
The normal course issuer bid has been instituted in that X-Terra
considers that the repurchase of common shares at certain market prices will
be beneficial to X-Terra. The purchases will be made through the facilities of
the TSX Venture Exchange at the market price of the common shares at the time
of purchase. X-Terra has appointed Desjardins Securities Inc. to make the
purchases on its behalf.
About X-Terra Resources:
X-Terra is a resource company focused on acquiring and exploring energy
properties in Canada. X-Terra Resources has 12,245,069 shares outstanding.
This news release contains certain forward-looking statements. These
forward-looking statements are subject to a variety of risks and uncertainties
beyond the ability of X-Terra to control or predict, which could cause actual
events or results to differ materially from those anticipated in such
forward-looking statements, including risks disclosed in filings with the
Canadian securities regulators made by X-Terra. Accordingly, readers should
not place undue reliance on forward-looking statements.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
For further information:
For further information: Martin Dallaire, President and CEO, (819)
762-0609, Fax: (819) 762-0097, firstname.lastname@example.org,