X-Terra Resources announces $1.18M financing

pcNewsWire – X-Terra Resources Inc. (TSX-V: XTT; FSE: XTR) intends to close a non-brokered private placement of up to 4.7 million units at a price of $0.24 per unit for gross proceeds of up to $1,175,000.

Press Release

X-Terra Resources announces a non-brokered private placement

ROUYN-NORANDA, QC, May 8, 2017 /CNW Telbec/ – X-Terra Resources Inc. (TSXV: XTT) and (FRANKFURT: XTR) announces that it will effect a non-brokered private placement in a maximum amount of $1,175,000 by issuing a maximum of 4.7 million units at a price of $0.24 per unit. Each of the units will consist of one common share in the capital of X-Terra Resources and one-half of a common share purchase warrant. Each full warrant will entitle its holder to purchase one additional common share of X-Terra Resources at an exercise price of $0.35 for a period of 24 months from the closing date of the private placement. The closing of the private placement is expected to take place on or about May 24, 2017.

The private placement is subject to approval of the TSX Venture Exchange.

About X-Terra Resources Inc.

X-Terra Resources is a resource company focused on acquiring and exploring precious metals and energy properties in Canada. X-Terra Resources currently has 17,836,123 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., Michael Ferreira, President and Chief Executive Officer, 139 Québec Avenue, Suite 202, Rouyn-Noranda, Québec, J9X 6M8, Telephone: 819-762-4101, Fax: 819-762-0097, E-mail: info@xterraresources.com, Website: www.xterraresources.com