Xtra-Gold Announces 2014 Normal Course Issuer Bid and Results of 2013 Bid
13 Febrero 2014 - 12:05PM
Xtra-Gold Resources Corp. ("Xtra-Gold" or the
"Company") (TSX:XTG) (OTCBB:XTGRF) is pleased to announce
today that the Toronto Stock Exchange ("TSX") has accepted a
noticed filed by the Company of its intention to renew its prior
normal course issuer bid for a further one year period. The Company
intends to proceed with a normal course issuer bid to purchase up
to 4,119,002 common shares of the Company (the "2014 Bid").
The Company is commencing the 2014 Bid because it believes that
the current market price of its common shares may not fully reflect
the underlying value of the Company's business and its future
business prospects. The Company believes that the purchase of
common shares for cancellation is in the best interests of the
Company's shareholders by increasing the respective proportionate
shareholdings and therefore increasing the respective equity
interest in the Company for all remaining shareholders.
As of February 10, 2014, the Company had 46,259,917 common
shares issued and outstanding. The 4,119,002 common shares
that may be purchased by the Company under the 2014 Bid represent
approximately 10% of the public float of the Company. The
2014 Bid will commence on February 17, 2014 and will terminate on
February 16, 2015 or at such earlier date in the event that the
number of shares sought in the 2014 Bid has been
repurchased. The Company reserves the right to terminate the
2014 Bid earlier if it feels that it is appropriate to do so.
All shares will be purchased on the open market through the
facilities of the TSX, and payment for the common shares will be in
accordance with TSX policies. The price paid for the common
shares will be the market price at the time of
purchase. Purchasing may be suspended at any time, and no
purchases will be made other than by means of open market
transactions during the term of the 2014 Bid.
The maximum number of common shares that may be purchased on a
daily basis is 1,697 common shares representing 25% of the average
daily trading volume for the last six calendar months, except where
purchases are made in accordance with "block purchases" exemptions
under applicable TSX policies. The common shares purchased by
the Company will be cancelled.
The Company has engaged Haywood Securities Inc. to act as broker
through which the 2014 Bid will be conducted.
Previous purchases were made by the Company under a prior normal
course issuer bid (the "2013 Bid"), the results of which are noted
hereunder.
Results of 2013 Bid
Xtra-Gold acquired 280,000 common shares at an average price of
$0.42 per share under the 2013 Bid which commenced on February 15,
2013 and will expire on February 14, 2014.
About Xtra-Gold Resources Corp.
Xtra-Gold is a gold exploration company with a substantial land
position in the Kibi Gold Belt. The Kibi Gold Belt, which
exhibits many similar geological features to Ghana's main gold
belt, the Ashanti Belt, has been the subject of very limited modern
exploration activity targeting lode gold deposits as virtually all
past gold mining activity and exploration efforts focused on the
extensive alluvial gold occurrences in many river valleys
throughout the Kibi area.
Xtra-Gold holds 5 Mining Leases totaling approximately 226 sq km
(22,600 ha) at the northern extremity of the Kibi Gold
Belt. The Company's exploration efforts to date have focused
on the Kibi Project located on the Apapam Concession (33.65 sq km),
along the eastern flank of the Kibi Gold Belt. The NI 43-101
Technical Report entitled "Independent Technical Report, Apapam
Concession, Kibi Project, Eastern Region, Ghana", prepared by SEMS
Explorations and dated October 31, 2012, is filed under the
Company's profile on SEDAR at www.sedar.com.
Forward-Looking Statements
The TSX does not accept responsibility for the adequacy or
accuracy of this release. No stock exchange, securities commission
or other regulatory authority has approved or disapproved the
information contained herein. This news release includes
certain "forward-looking statements". These statements are
based on information currently available to the Company and the
Company provides no assurance that actual results will meet
management's expectations. Forward-looking statements include
estimates and statements that describe the Company's future plans,
objectives or goals, including words to the effect that the Company
or management expects a stated condition or result to
occur. Forward-looking statements may be identified by such
terms as "believes", "anticipates", "expects", "estimates", "may",
"could", "would", "will", or "plan". Since forward-looking
statements are based on assumptions and address future events and
conditions, by their very nature they involve inherent risks and
uncertainties. Actual results relating to, among other things,
results of exploration, project development, reclamation and
capital costs of the Company's mineral properties, and the
Company's financial condition and prospects, could differ
materially from those currently anticipated in such statements for
many reasons such as: changes in general economic conditions and
conditions in the financial markets; changes in demand and prices
for minerals; litigation, legislative, environmental and other
judicial, regulatory, political and competitive developments;
technological and operational difficulties encountered in
connection with the activities of the Company; and other matters
discussed in this news release. This list is not exhaustive of
the factors that may affect any of the Company's forward-looking
statements. These and other factors should be considered
carefully and readers should not place undue reliance on the
Company's forward-looking statements. The Company does not
undertake to update any forward-looking statement that may be made
from time to time by the Company or on its behalf, except in
accordance with applicable securities laws.
CONTACT: For further information please contact:
Paul Zyla, Chief Executive Officer
Telephone: 416 366-4227
E-mail: info@xtragold.com
Website: www.xtragold.com
Xtra Gold Resources (TSX:XTG)
Gráfica de Acción Histórica
De Nov 2024 a Dic 2024
Xtra Gold Resources (TSX:XTG)
Gráfica de Acción Histórica
De Dic 2023 a Dic 2024