Toronto, Ontario--(Newsfile Corp. - July 15, 2020) - Xtierra Inc. (TSXV: XAG) ("Xtierra" or the "Company") announces that it has closed its previously announced private placement in the amount of $1,000,000 through the issuance of 20,000,000 common shares at $0.05 per share.
The private placement has been conditionally approved by TSX Venture Exchange and is subject to final acceptance by the Exchange. The shares are subject to a 4 month hold period expiring on November 11, 2020.
Proceeds of the financing will be used primarily to expand and diversify Xtierra's royalty portfolio into Canada, the United States and other mining friendly jurisdictions.
About Xtierra Inc.
Xtierra is a natural resource company with precious and base metal mineral properties in the Central Silver Belt of Mexico in the State of Zacatecas and is pursuing new opportunities including identifying and evaluating new potential royalty acquisitions.
Xtierra holds a 100% interest, subject to a 1.5% net smelter royalty repurchased in July 2019, on the Bilbao project silver-lead-zinc-copper project located in the southeastern part of the State of Zacatecas.
Xtierra owns 88% of the shares of Minera Portree de Zacatecas, S.A. de C.V ("Minera Portree") which holds various legal or royalty interests in certain mineral properties in Mexico, including the Company's Bilbao property, and an asserted claim to a 2% net smelter royalty on six mining concessions located adjacent to the Cozamin Mine operated by Capstone Mining Corp., which claim is challenged by Capstone.
For further information contact Xtierra Inc. at
John F. Kearney
Chairman
(416) 362-6686
Tim Gallagher
President & Director
(416) 925‐0090
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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