ROUYN-NORANDA, QC, Nov. 1, 2018 /CNW Telbec/ - X-Terra Resources Inc. (TSXV: XTT) (FRANKFURT: XTR) ("X-Terra") is pleased to announce that it has applied to the TSX Venture Exchange for a one-year extension of the term of 1,525,000 common share purchase warrants that were issued by X-Terra as part of a private placement that closed on November 16, 2016. Each warrant currently entitles its holder to purchase one additional common share of X-Terra at an exercise price of $0.25 and has a current expiry date of November 16, 2018.
Subject to the approval of the TSX Venture Exchange, the term of the warrants will be extended to November 16, 2019, for a total term of three years. X-Terra issued a total of 1,525,000 warrants in the November 2016 private placement, none of which have been exercised. 175,000 warrants are held by a holding company of a director of X-Terra.
About X-Terra Resources Inc.
X-Terra Resources is a resource company focused on acquiring and exploring precious metals and energy properties in Canada.
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 accuracy of the release.
SOURCE X-Terra Resources Inc.
For further information: X-Terra Resources Inc., Mr. Michael Ferreira, President & Chief Executive Officer, 139 Québec Avenue, Suite 202, Rouyn-Noranda, Québec, J9X 6M8, Telephone: 819-762-4101 | Fax: 819-762-0097, E-mail: [email protected]