Xali Gold to close first tranche of private placement December 19

Xali Gold Corp. (TSXV: XGC) announced it plans to close the first tranche of its previously announced non-brokered private placement on December 19, 2025, raising approximately C$1 million. A second tranche of approximately C$500,000 is planned to close on or about December 23, 2025.

The private placement is expected to generate gross proceeds of approximately C$1.5 million through the sale of 15 million units at C$0.10 per unit. Each unit consists of one common share and one-half share purchase warrant. Each warrant will be exercisable for one additional share at C$0.20 per warrant share for 18 months, subject to accelerated expiry conditions.

Funds from the first tranche will cover the $500,000 payment due to Pan American Silver Corp. upon closing of the acquisition of the Pico Machay Property, an exploration stage project in Peru. The acquisition was previously announced in the company's October 24, 2025 news release.

"We are very pleased with the strong participation from Peruvian investors in this financing, alongside continued support from long-term shareholders and our management team," said Joanne Freeze, Xali Gold President and CEO.

Approximately 75% of the gross proceeds will be allocated to the acquisition and exploration of Pico Machay, with the balance directed towards working capital and general corporate purposes. Finder's fees of 6% in cash and 6% in non-transferable finder warrants may be paid on a portion of the private placement.

Both the private placement closing and the Pico Machay acquisition are subject to TSX Venture Exchange approval. The shares and warrant shares will be subject to a mandatory four month and one day hold period from the closing date.

Information is based on a company press release.

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