Xplore Resources Corp. announced a private placement of up to 15,000,000 units at a price of CAD 0.10 per unit for total gross proceeds of up to CAD 1.5 million on October 30, 2023. Each unit will consist of one common share of and one non-transferable share purchase warrant, with each warrant exercisable to acquire one additional share for a period of two years from the date of issue at a price of CAD 0.15 per share.

All securities issued under the placement will be subject to a hold period expiring four months and one day from the date of issue. The company may pay finders' fees on all or part of the placement in accordance with the policies of the TSX Venture Exchange. The company anticipates closing of the placement (in one or more tranches) as soon as practicable subject to receipt of all necessary regulatory approvals.