Xtra-Gold Announces Non-Brokered Private Placement

Core Viewpoint - Xtra-Gold Resources Corp. is initiating a non-brokered private placement to raise $1.5 million through the sale of up to 625,000 units at a price of $2.40 per unit, with each unit consisting of one common share and one-half of a warrant [1][3]. Group 1: Private Placement Details - The private placement aims to raise gross proceeds of $1.5 million by selling up to 625,000 units at $2.40 each [1]. - Each unit includes one common share and one-half of a common share purchase warrant, allowing the purchase of an additional share at $2.80 for two years [1]. - The company may pay finders' fees in cash and non-transferable warrants, with each Finder's Warrant allowing the purchase of one additional share at $2.50 for two years [2]. Group 2: Use of Proceeds and Regulatory Compliance - Proceeds from the private placement will be allocated for general working capital purposes [3]. - The closing of the private placement is contingent upon acceptance by the Toronto Stock Exchange and necessary regulatory approvals [3]. - All securities issued will be subject to a regulatory hold period of four months plus one day from the issuance date [3]. Group 3: Company Overview - Xtra-Gold Resources Corp. is a gold exploration company with a significant land position in the Kibi Gold Belt, located in Ghana, West Africa [4].