Xtra-Gold Announces Closing of Oversubscribed Non-Brokered Private Placement

Core Points - Xtra-Gold Resources Corp. has successfully closed an oversubscribed non-brokered private placement, raising gross proceeds of $2,452,000 by selling 1,018,000 units [1] - The offering included 918,000 units sold at $2.40 each and 100,000 units sold to an insider at $2.49 each, with associated warrants exercisable at $2.80 and $2.93 respectively [1][4] - Proceeds from the offering will be allocated for general working capital purposes [3] Financial Details - The company paid a cash finder's fee of $142,812 and issued 59,280 finder's warrants, each allowing the purchase of one additional share at $2.50 for 24 months [2] - The insider's participation in the offering is classified as a related party transaction, exempt from certain valuation and minority shareholder approval requirements [4] Company Background - Xtra-Gold Resources Corp. is a gold exploration company with a significant land position in the Kibi Gold Belt, located in Ghana, West Africa [6]