X-Terra Resources Corporation
TSX VENTURE : XT

X-Terra Resources Corporation

April 25, 2007 18:55 ET

X-Terra Resources Corporation: Proposed Private Placement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 25, 2007) -

NOT FOR DISSEMINATION TO US NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

X-Terra Resources Corporation (the "Company")(TSX VENTURE:XT) announces today that it is proposing, subject to regulatory approval, to carry out a non-brokered private placement of up to 1,000,000 Units at a price of $0.56 per Unit. Each Unit consists of one common share of the Company and one non-transferable share purchase warrant, with each warrant entitling the holder to acquire one additional common share of the Company at a price of $0.70 per share for two years. Finders' fees may be paid in connection with the private placement. All securities issued will be subject to a 4-month hold period from the date of closing.

The Company intends to use the proceeds of the private placement for general working capital and to fund the proposed exploration and development work on the Villedieu Township mineral claims recently acquired (see NR April 23, 2007).

BY THE ORDER OF THE BOARD OF DIRECTORS

John S. Brock, President

THIS NEWS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN. THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy or the adequacy of this press release.

Contact Information

  • X-Terra Resources Corporation
    Blaine Monaghan
    Manager, Investor Relations
    (604) 687-4951 or Toll-Free 1-800-403-2988
    (604) 687-4991 (FAX)
    Email: ir@badgerandco.com