X-Terra Resources (XTT.V) has now closed its non-brokered financing which allowed the company to raise C$1.1M through the issuance of 4.65 million units. Each unit consisted of one share and half a warrant whereby each full warrant allows the warrant holder to acquire an additional share at C$0.35 within 24 months.
There might be more, as X-Terra planned to raise up to C$1.3M, so it will be interesting to see the total amount raised after the second closing which is expected on June 19th. It’s encouraging to see SIDEX as one of the larger participants in the financing, as the Québec fund invested C$100,000 in the current round.
The C$1.1M (and potentially C$1.3M) will allow X-Terra to continue its exploration activities at the Veronneau showing, and as the company has locked up the entire greenstone belt at and around Veronneau, it’s able to calmly assess and prioritize its planned drill locations.
Go to X-Terra’s website
The author has a long position in X-Terra Resources. X-Terra is not a sponsor of the website, but we were compensated by a third party for coverage. Please read the disclaimer
