Xtra Energy Corp.

May 01, 2012 09:00 ET

Xtra Energy Corp. Announces the Completion of the Change of Business

FORT-LAUDERDALE, FLORIDA--(Marketwire - May 1, 2012) - Xtra Energy Corp. (PINKSHEETS:XTPT) announced today the completion of the change of business into a gold mining company.

According to the current filings made by the company, Xtra Energy acquired all outstanding shares of Anglo African Gold Corp., a producing mining company located in the Democratic Republic of Congo. Xtra Energy issued a total of 110,000,000 common shares for the acquisition and currently has 201,351,500 common shares issued and outstanding.

The company will concentrate its effort developing the Anglo African Gold properties, which are comprised of 61 squared kilometers, located 40 Kilometers of the town of Lubutu in DRC. It is the company's objective to acquire, install and operate industrial equipment on site to produce gold in 2012. Recent activities on the property have included surveying, sampling of soil and semi-industrial production.

"We are very happy with the merger with Xtra Energy as we enter into a new phase of our development," said Louis-Blaise Londole Lokoy, President of Anglo-Afican Gold Corp. "The planned production as well as the drilling work to be performed this year will provide extreme value to our shareholders and stakeholders," further added Mr. Lokoy.

The company plans to change its name and ticker symbol in the near future to Anglo-African Gold Corp.

Additional information is available at www.angloafricangold.com.

About Xtra Energy Corp.

Xtra Energy Corp. is a Gold Mining US registered public company trading on the Pinksheets under the ticker symbol XTPT. Xtra Energy Corp. wholly owns a subsidiary named Anglo African Gold Corp. and its significant gold mining properties in the Democratic Republic of Congo.

This news release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended; such statements are subject to risks and uncertainties that could cause actual results to vary materially from those projected in the forward-looking statements. The Company may experience significant fluctuations in operating results due to a number of economic, competitive and other factors. These factors could cause operations to vary significantly from those in prior periods, and those projected in forward-looking statements. Information with respect to these factors, which could materially affect the Company and its operations, are included on certain forms the Company files with the Securities and Exchange Commission.

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