X-Terra Resources announces extension of warrant term
ROUYN-NORANDA, QC, May 19 /CNW Telbec/ - X-Terra Resources Corporation
(XT-TSXV) announces that it has applied to the TSX Venture Exchange for a
one-year extension of the term of 650,000 common share purchase warrants that
were issued by X-Terra as part of a private placement in May 2007. Each
warrant currently entitles its holder to purchase one additional common share
of X-Terra at an exercise price of $0.70 until May 28, 2009.
Subject to the approval of the TSX Venture Exchange, the term of the
warrants will be extended to May 28, 2010, for a total term of three years.
X-Terra issued a total of 1,000,000 warrants in the May 2007 private
placement, of which 350,000 warrants have to date been exercised.
About X-Terra Resources
X-Terra is a resource company focused on acquiring and exploring energy
properties in Canada. X-Terra Resources has 11,783,069 shares outstanding, a
cash position of $4 millions and an investment of 2,000,000 shares of
Brownstone Ventures Inc. which represents as of today $0.44 per share.
Forward-looking Statements
This news release contains certain forward-looking statements. These
forward-looking statements are subject to a variety of risks and uncertainties
beyond the ability of X-Terra to control or predict, which could cause actual
events or results to differ materially from those anticipated in such
forward-looking statements, including risks disclosed in filings with the
Canadian securities regulators made by X-Terra. Accordingly, readers should
not place undue reliance on forward-looking statements.
Neither 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 this release.
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For further information: Martin Dallaire, President and Chief Executive
Officer, (819) 762-0609, Fax: (819) 762-0097, info@xterraresources.com;
www.xterraresources.com
