Xtra-Gold Sources Pronounces 2021 Regular Course Tender Provide and 2020 Provide Outcomes
Toronto, Ontario – (Newsfile Corp. – March 12, 2021) – Xtra-Gold Sources Corp. (TSX: XTG) (OTCQB: XTGRF) (“Xtra-Gold” or the “Firm”) is happy to announce immediately that the Toronto Inventory Change (“TSX”) has accepted a discover filed by the Firm indicating its intention to resume its regular course issuer bid for an extra interval of ‘a yr. The Firm intends to make a standard course issuer bid to buy as much as 4,000,000 widespread shares of the Firm (the “Submission 2021“).
The Firm is launching the 2021 Provide as a result of it believes that the present market worth of its widespread shares might not absolutely replicate the underlying worth of the Firm’s enterprise and its future enterprise prospects. The Firm believes that the acquisition of widespread shares for cancellation is in the perfect pursuits of the shareholders of the Firm by rising the respective proportional holdings and, subsequently, by rising the respective holding within the Firm for all remaining shareholders. .
As of March 9, 2021, the Firm had 46,869,917 widespread shares issued and excellent. The 4,000,000 widespread shares that may be bought by the corporate below the 2021 supply characterize roughly 10% of the free float (41,980,312 as of March 9, 2021) of the corporate. The 2021 utility will begin on March 16, 2021 and can finish on March 15, 2022 or at an earlier date within the occasion that the variety of shares sought within the 2021 Provide has been repurchased. The Firm reserves the appropriate to terminate the 2021 Provide earlier if it considers it applicable to take action.
All Shares shall be bought on the open market by the amenities of the TSX, and cost for Widespread Shares shall be made in accordance with TSX insurance policies. The worth paid for the Widespread Shares would be the market worth on the time of buy. Purchases may be suspended at any time and no buy shall be made apart from by open market transactions in the course of the 2021 Provide interval.
The utmost variety of widespread shares that may be bought each day is 8,207 widespread shares representing 25% of the common each day buying and selling quantity 32,828 for the final six calendar months, besides when purchases are made in accordance with the exemptions referring to “block purchases”. »Relevant TSX insurance policies. Widespread shares bought by the corporate shall be canceled.
The Firm has engaged Haywood Securities Inc. to behave as dealer by which the 2021 Provide shall be performed.
Earlier purchases have been made by the Firm as a part of a standard course buyback supply (the “2020 Provide”), the outcomes of that are proven beneath.
2020 Candidature Outcomes
Pursuant to a earlier discover of intention to make a standard course issuer bid, the corporate has requested and obtained approval from the TSX to buy as much as 4,000,000 widespread shares for the interval of 16 March 2020 to March 15, 2020, on February 2, 2021, the Firm bought 280,700 widespread shares on the open market at a mean buy worth of $ 0.97 per share. As of February 28, 2021, the variety of issued and excellent strange shares was 46,869,917 and the general public free float of the strange share was 41,980,312 shares.
About Xtra-Gold Sources Corp.
Xtra-Gold is a gold exploration firm with a considerable land place within the Kibi Gold Belt, Ghana in West Africa.
For extra info, please contact:
James Longshore, Chairman and CEO
Web site: www.xtragold.com