Vancouver, British Columbia - TheNewswire - October 21, 2020 - Xander Resources Inc. (TSXV:XND) (FSE:1XI) (OTC:XNDRF) (the "Company") is pleased to announce that, further to its news release of October 1, 2020 and subject to the final approval of the TSX Venture Exchange (the "Exchange"), it has closed its non-brokered private placement (the "Private Placement") issuing a total of 2,000,000 units (the "Units") at $0.20 per Unit for total gross proceeds of $400,000. The sole investor in the Private Placement was Palisades Goldcorp Ltd.
Each Unit consists of one common share (a "Share") and one non-transferable common share purchase warrant (a "Warrant") with each Warrant exercisable for three (3) years from the date of closing at an exercise price of $0.30 per Warrant.
All securities issued in connection with the Private Placement will be subject to a 4-month hold period in Canada. The Company will use the gross proceeds of the Private Placement for exploration of mineral properties and for general working capital. No finder's fees were paid in connection with the Private Placement.
Jim Hirst, CEO stated, "I want to thank the management of Palisades Goldcorp for recognizing and supporting Xander's exploration of its Fenelon and Senneville properties on the Val d'Or Gold Trend. The recent results from Wallbridge Mining confirm our decision to acquire and explore these historical discoveries."
About Palisades Goldcorp.
Palisades Goldcorp is Canada's resource focused merchant bank. Palisades' management team has demonstrated track record of making money and is backed by many of the industry's most notable financiers. With junior resource equities valued at generational lows, management believes the sector is on the cusp of a major bull market move. Palisades is positioning itself with significant stakes in undervalued companies and assets with the goal of generating superior returns.
About Xander Resources:
Xander Resources is a junior exploration firm focused on developing accretive gold properties within Canada. The company currently has a focus on projects located within the Provinces of Ontario and Quebec.
ON BEHALF OF THE BOARD OF DIRECTORS
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