ROUYN-NORANDA, QC, July 27, 2020 /CNW Telbec/ - X-Terra Resources Inc. (TSXV: XTT) (FRANKFURT: XTR) ("X-Terra") is pleased to announce that it has entered into a consulting agreement ("IR Agreement") with MarketSmart Communications Inc. ("MarketSmart") pursuant to which MarketSmart will provide investor relations services to X-Terra. The IR Agreement is for an initial term of six months commencing on July 27, 2020 with an option for renewal. Either party may terminate the agreement for any reason, with or without cause, on one month's written notice to the other.
MarketSmart was established in 2002 and President, Maria Da Silva, has worked with many TSX Venture Exchange companies to assist in helping companies with their corporate profile within the investment community.
"As an industry leader and commitment to value and outstanding service, we are delighted to be partnering with MarketSmart to increase awareness about X-Terra and its flagship projects. Their success can be highlighted by many companies they have worked with in the past and currently with SONA Nanotech Inc." stated Michael Ferreira, President and Chief Executive Officer of X-Terra.
Pursuant to the IR Agreement, MarketSmart will be paid $8,500 per month plus applicable taxes and will be granted an incentive stock option to purchase 300,000 common shares of X-Terra (the "Option") at a price of $0.15 per share for a term of two years in accordance with the X-Terra's Stock Option Plan, but subject to cancellation of the Option held by MarketSmart 30 days after termination of the agreement. The Option will vest over 12 months. MarketSmart and its principals will act at arm's length to X-Terra and currently have no direct or indirect interest in the securities of X-Terra, or any right or intent to acquire such an interest, with the exception of the above options. The IR Agreement and grant of the Options are subject to the approval of the TSX Venture Exchange.
About X-Terra Resources Inc.
X-Terra is a resource company focused on acquiring and exploring precious metals properties in Canada.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the release.
Website: www.xterraresources.com
SOURCE X-Terra Resources Inc.
View original content: http://www.newswire.ca/en/releases/archive/July2020/27/c5494.html
X-Terra Resources Inc., Michael Ferreira, President and Chief Executive Officer, 147 Québec Avenue, Rouyn-Noranda, Québec, J9X 6M8, Telephone: 819-762-4101, Fax: 819-762-0097, E-mail: info@xterraresources.com