Mr. Leon van der Merwe reports
XTRA-GOLD RESOURCES CORP. SHAREHOLDER LEON VAN DER MERWE INVESTOR OWNS 5,107,851 SHARES
On Oct. 31, 2019, Leon van der Merwe, a resident of Binningen, Switzerland, directly acquired in the market, without joint actors, sufficient common shares of Xtra-Gold Resources Corp. such that his holdings now exceed 10 per cent of the issued and outstanding common shares of Xtra-Gold. Mr. van der Merwe has been a shareholder of Xtra-Gold for over a decade and has acquired common shares over the years at multiple times for investment purposes.
Prior to Oct. 31, 2019, Mr. van der Merwe held common shares representing 9.90 per cent of the common shares of Xtra-Gold. He acquired 557,851 shares at an average price of 50 cents per share for consideration of $278,925.50 to increase his aggregate holdings to 5,107,851 shares, representing approximately 11.11 per cent of the issued and outstanding common shares of Xtra-Gold. As of Sept. 30, 2019, Xtra-Gold reported 45,951,117 shares outstanding.
Mr. van der Merwe acquired the common shares of Xtra-Gold, which triggered this news release in the ordinary course of his business and investment activities and may, from time to time, acquire or dispose of such securities as he deems appropriate.
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