12/01/2021
Xander Resources is pleased to announce that Adrian Smith, P.Geo., has been appointed as a Director. Mr. Smith is a professional geologist with over a decade of experience in the capital markets and mineral exploration and development sector. He has successfully executed multiple exploration programs and corporate strategies, including the acquisition, development and optioning of the Mohave Gold project in Arizona, USA during his time as CEO of M3 Metals Corp.
The Company also announces that, further to its news release of August 20, 2021, it has entered into a mineral property purchase and sale agreement (the “Agreement”) with QL Minerals Inc., of Toronto, Ontario (the “Purchaser”) whereby the Company has agreed to sell to Purchaser 100% of its rights title and interest of 39 claims located in the township of Senneville, Quebec, Canada (the “Property”).
The Purchaser plans on listing its common shares for trading on a Canadian stock exchange in the coming months and, to this effect, following ex*****on of the Agreement, has signed a separate agreement with PetroCorp Group Inc. as part of its go-public transaction.
As consideration for the purchase of the Property, the Purchaser has agreed to issue the Company 400,000 common shares in the capital of the Purchaser (the “Consideration Shares”) at a deemed price of $0.25 per Consideration Share for aggregate consideration of $100,000.
Deepak Varshney, P.Geo., President and CEO of the Company, commented: “Xander is looking forward to working with the team at QL Minerals, which we expect will have a very exciting value proposition for investors. Xander's share position in QL Minerals gives our shareholders the opportunity to benefit substantially from the expected growth and success of this new battery metals company. Following completion of this sale, we still own 171 claims as part of our Senneville Project where we will be moving forward with a gold-focused exploration program, particularly in the east adjacent to Monarch Mining’s claims and the McKenzie Break deposit.”