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ROUYN-NORANDA, QC, Oct. 20, 2016 /CNW Telbec/ - X-Terra Resources Inc. (TSXV: XTT) is pleased to announce that it has appointed Michael Ferreira as the new President and Chief Executive Officer of X-Terra effectively immediately. Mr. Ferreira replaces Martin Dallaire who has resigned as President and Chief Executive Officer of X-Terra to allow him to focus and concentrate his time and efforts on two other companies in which he is involved, Fieldex Exploration Inc. and Visible Gold Mines Inc. Mr. Dallaire will continue to serve as Chairman of the Board of Directors and as a Director of X-Terra.
Mr. Ferreira has been working with public and private companies as an independent advisor for more than five years, primarily in the junior mining sector and most recently, Mr. Ferreira was the Vice President Operations of X-Terra. Mr. Ferreira's strength and focus has been in company corporate development, capital markets, administration, and market awareness.
Mr. Dallaire, the Chairman of the Board of Directors of X-Terra, commented "We are pleased that Michael has accepted the offer to assume the increased responsibilities of President and Chief Executive Officer of X-Terra. Because of his past role and relationship with X-Terra's management team and shareholders, Michael is uniquely qualified and proven himself ready to assume a more senior role in the administration and affairs of the company. He comes with considerable experience in the mining industry, which I believe will allow X-Terra to successfully advance its projects and maximize shareholder value going forward".
"I truly look forward to the opportunity to join X-Terra at this early stage in its development. Our strategy will be to create value for shareholders through exploration and potential transactions" stated Mr. Ferreira.
About X-Terra Resources Inc.
X-Terra Resources is a resource company focused on acquiring and exploring mining and energy properties in Canada as well as abroad. X-Terra Resources has 12,186,123 common shares issued and outstanding.
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., 139 Québec Avenue, Suite 202, Rouyn-Noranda, Québec, J9X 6M8, Telephone: 819-762-4101 | Fax: 819-762-0097, E-mail: [email protected], Website: www.xterraresources.com