Xtierra Inc. (TSX VENTURE:XAG) reports that the company has closed the first tranche of a previously announced non brokered private placement for gross proceeds of $3.955 million consisting of 19,775,000 units at $0.20 per Unit.
The press release is quoted as saying:
Xtierra Inc. is a Toronto based exploration and development company listed on the TSX Venture Exchange. Xtierra’s shares trade under the symbol “XAG”. Xtierra has 69,637,003 shares issued and outstanding. Xtierra is conducting a feasibility study on its 100% owned Bilbao silver-zinc-copper project in Zacatecas, Mexico. Xtierra’s objective is to become a mid-tier producer of precious and base metals through the development of its Bilbao and Laguna projects, both located in the Central Mexican Mineral Belt in the State of Zacatecas, as well as through exploration, organic growth and M & A opportunities.
