Xmet Inc. (TSXV:XME) announced a non-brokered private placement of 2,727,273 units at a price of CAD 0.11 per unit for gross proceeds of CAD 300,000.03 on April 11, 2014. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to acquire one common share of the company at an exercise price of CAD 0.175 per share any time until October 11, 2015. The company issued units to an institutional investor. The company has paid finder's fees equal to CAD 24,000 approximately 8% of the gross proceeds and issued 218,182 compensation options that equates to 8% of the units issued to Maison Placements Canada Inc. Each compensation option entitles the holder to acquire one common share of the company at a price of CAD 0.11 per share at any time until October 11, 2015. The securities issued are subject to four month hold period expiring on August 11, 2014. Henry Harris and Steven Cutler of Gowling Lafleur Henderson LLP acted as legal advisors to the company for the transaction.

On the same date, the company announced that it has closed the first tranche of the transaction.

On July 24, 2014, Xmet Inc. closed the transaction. The company announced that it has closed the second tranche of the transaction. The company announced that it has issued 2,700,000 units at a price of CAD 0.05 for gross proceeds of CAD 135,000 in the second tranche of the transaction. The company has received CAD 435,000.03 in funding from the transaction. Each Warrant is exercisable into one common share at a price of CAD 0.05 for a period ending July 23, 2019. The securities to be issued are subject to a hold period of four month expiring on November 24, 2014. Maison Placements Canada Inc. will act as agent and finder in connection with the transaction and will receive a cash commission of CAD 10,800 and compensation options to acquire 216,000 units for a period ending July 23, 2016. The company announced that TSX Venture Exchange has accepted filing documentation with respect to the second tranche of the transaction. The company issued 2,700,000 units to one placee.