Xtra-Gold arranges $1.5-million private placement

Executive Summary

• Xtra‑Gold Resources Corp. announced a non‑brokered private placement to raise $1.5 million by selling up to 625,000 units at $2.40 per unit.
• Each unit includes one common share and half of a common‑share purchase warrant (full warrant allows purchase of one additional share at $2.80 for two years).
• Proceeds will be used for general working capital; the placement is subject to TSX acceptance, regulatory approvals, and a four‑month plus one day hold period.

Key Details

• Units Offered: Up to 625,000 units at $2.40 per unit (gross proceeds of $1.5 million).
• Unit Composition: 1 common share + ½ of a common‑share purchase warrant; each whole warrant permits purchase of one additional share at $2.80 for two years from issuance.
• Finder’s Fees: Company may issue cash and non‑transferable warrants to qualified arm’s‑length finders; each finder’s warrant allows purchase of one share at $2.50 for two years from issuance.
• Use of Proceeds: General working capital purposes.
• Regulatory Conditions: Closing subject to Toronto Stock Exchange acceptance and required regulatory approvals. All securities will be subject to a hold period of four months plus one day from the date of issuance.

Notable Quotes

(No executive quotes were provided in the release.)