NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN
September 1, 2021 – Xander Resources Inc. (TSXV: XND) (FSE:1XI) (OTCQB: XNDRF) (“Xander” or the “Company”) is pleased to announce that Mr. Deepak Varshney, P.Geo., currently a Director of the Company, has been appointed President and CEO, effective immediately. Mr. Varshney is presently CEO and a Director of Usha Resources Ltd. (USHA.V), a gold and copper-focused junior mining exploration company, and CEO and Director of Orcus Resources Ltd., a Capital Pool Company (CPC). He is a professional geologist and has over 10 years of experience in the capital markets and mineral exploration and development sector.
Mr. Varshney is replacing Mr. Jim Hirst as President and CEO of the Company. The Company would like to thank Mr. Hirst for his numerous contributions as its President and CEO and he will continue to serve as a director of the Company.
Deepak Varshney, P.Geo., President and CEO, commented, “I am excited to build on the previous exploration work we have completed on the Senneville Claims as we continue to develop our properties in the Abitibi. Our focus in the near term will be to develop our lithium and gold assets as we move towards a sequence of drill programs across our claims through 2021-2022. Xander is fortunate to have the flexibility to move forward in both the battery and precious metals spaces and I am confident that we have the key elements in place to unlock significant value for shareholders.”
Non-Brokered Private Placement
The Company is also pleased to announce that it has launched a non-brokered private placement for gross proceeds of up to $200,000 through the issuance of up to 2,000,000 units (the “Units”) at a price of $0.10 per Unit.
Each Unit will consist of one common share (a “Share”) and one transferable share purchase warrant (a “Warrant”) exercisable at $0.20 per share for a period of two (2) years from the date of closing.
Finder’s fees may be paid in accordance with applicable securities laws. The net proceeds from the Private Placement will be used for exploration on the Company’s portfolio of properties and working capital and general corporate purposes.
About Xander Resources Inc.
Xander Resources Ltd. is a Canadian mineral acquisition and exploration company based in Vancouver, BC, Canada. Xander is exploring for commercially exploitable mineral deposits and is currently focused on deposits located in Val-d’Or, Quebec, including the Senneville Claim Group which comprises over 100 sq. km and is contiguous in the South to Probe Metals’ new discovery, and contiguous in the North to Monarch Mining and in close proximity to Eldorado Gold’s (formerly QMX Gold) projects in the Val-d’Or Mining Camp.
ON BEHALF OF THE BOARD OF DIRECTORS
Deepak Varshney, P.Geo., President and CEO
Telephone: (236) 607-5490
For more information please visit our website: www.xanderresources.ca
Investor Relations: [email protected] Dan Samartino
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements.
This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.