X-Terra Resources Inc. (TSX-V: XTT) (FRANKFURT: XTR) is pleased to announce that it has held a closing of a non-brokered private placement at which it issued 7,566,667 Quebec “flow-through” common shares at a price of $0.09 per share and 7,566,668 units at a price of $0.075 per unit, for aggregate gross proceeds to X-Terra Resources of $1,248,500. Each of the 7,566,668 units is comprised of one federal “flow-through” common share and one-half of a common share purchase warrant. Each whole warrant entitles its holder to acquire one additional common share of X-Terra at a price of $0.12 for a period of 24 months from the closing date. X-Terra intends to use the proceeds from the private placement for exploration on certain of its mining exploration properties in Québec and New Brunswick.

In connection with the private placement, X-Terra paid cash commissions to three securities dealers in an aggregate amount of $85,820. In addition, X-Terra granted finders’ options to EDE Asset Management Inc., Glores Securities Inc., Marquest Asset Management Inc. and Qwest Investment Fund Management Ltd., entitling them to acquire up to (i) 322,000 additional common shares of X-Terra at a price of $0.075 per share period of 24 months; and (ii) 716,333 additional common shares of X-Terra at a price of $0.09 per share for a period of 24 months.

As a result of the closing of the private placement, there are 114,585,054 common shares of X-Terra issued and outstanding. Under applicable securities legislation, the securities issued in the private placement are subject to a four-month hold period, expiring on April 23, 2023.

About X-Terra Resources Inc.

X-Terra Resources is a resource company focused on acquiring and exploring lithium and precious metals properties in Canada.