ROUYN-NORANDA, QC, May 12, 2017 /CNW Telbec/ - X-Terra Resources Inc. (TSXV: XTT)
and (FRANKFURT: XTR) is pleased to announce that it will increase the size of its previously-announced non-brokered private
placement. X-Terra Resources will now conduct a private for a maximum amount of $1,300,000 by
issuing a maximum of 5,416,666 units at a price of $0.24 per unit. Each of the units will
consist of one common share in the capital of X-Terra Resources and one-half of a common share purchase warrant. Each full
warrant will entitle its holder to purchase one additional common share of X-Terra Resources at an exercise price of $0.35 for a period of 24 months from the closing date of the private placement. X-Terra Resources may pay
finder's fees in connection with the private placement. The net proceeds from the private placement will be used for the
development of X-Terra's properties and general working capital purposes. The closing of the private placement is expected
to take place on or about May 24, 2017.
The private placement is subject to approval of the TSX Venture Exchange.
About X-Terra Resources Inc.
X-Terra Resources is a resource company focused on acquiring and exploring precious metals and energy properties in
Canada. X-Terra Resources currently has 18,176,123 common shares issued and
outstanding.
Forward-Looking Statements
This news release contains statements that may constitute "forward-looking information" within the meaning of
applicable Canadian securities legislation. Forward-looking information may include, among others, statements regarding the
future plans, costs, objectives or performance of X-Terra Resources, or the assumptions underlying any of the foregoing. In this
news release, words such as "may", "would", "could", "will", "likely", "believe", "expect", "anticipate", "intend", "plan",
"estimate" and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking
statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of
whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events
anticipated by the forward-looking information will transpire or occur, including the closing of the private placement.
Forward-looking information is based on information available at the time and/or management's good-faith belief with respect to
future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of
which are beyond X-Terra Resources' control. These risks, uncertainties and assumptions include, but are not limited to, those
described under "Financial Instruments" and "Risk and Uncertainties in X‑Terra Resources' Annual Report for the fiscal year ended
December 31, 2016, a copy of which is available on SEDAR at www.sedar.com , and could cause actual events or results to differ materially
from those projected in any forward-looking statements. X-Terra Resources does not intend, nor does X-Terra Resources undertake
any obligation, to update or revise any forward-looking information contained in this news release to reflect subsequent
information, events or circumstances or otherwise, except if required by applicable laws.
Neither the 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 the release.
SOURCE X-Terra Resources Inc.
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