Canada NewsWire
ROUYN-NORANDA, QC, June 27, 2016
ROUYN-NORANDA, QC, June 27, 2016 /CNW Telbec/ - X-Terra
Resources Inc. (TSXV: XTT) is pleased to announce the results of its annual and special meeting of shareholders held on
June 22, 2016 in Rouyn-Noranda, Québec. At the meeting,
shareholders elected Martin Dallaire, Sylvain Champagne,
Jean-François Madore, Sébastien Bellefleur, Michael Ferreira and Michael
Byron as members of the Board of Directors of X-Terra. The shareholders also re-appointed PricewaterhouseCoopers LLP,
Chartered Professional Accountants, as the auditors of X‑Terra. At the meeting, shareholders also approved a resolution ratifying
and confirming X-Terra's stock option plan.
X-Terra also announces that following the shareholders' meeting, the Board of Directors appointed Martin
Dallaire as chairman of the Board of Directors, President and Chief Executive Officer of X-Terra, Sylvain Champagne as Secretary and Chief Financial Officer of X-Terra and Michael
Ferreira as Vice President, Operations.
X-Terra's Board of Directors has also granted stock options in respect of 400,000 common shares to X-Terra's six directors. The
options were granted pursuant to X-Terra's stock option plan. The exercise price of the options is $0.20, which is equal to the closing price of X-Terra's common shares on the TSX Venture Exchange on Friday,
June 24, 2016. The options expire on June 27, 2026 and vested immediately.
About X-Terra Resources Inc.
X-Terra Resources Inc. is a resource company focused on acquiring and exploring energy properties in Canada. X-Terra has 9,577,790 shares outstanding.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies
of theTSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the release.
SOURCE X-Terra Resources Inc.
