TORONTO, May 19, 2022 (GLOBE NEWSWIRE) -- On May 3, 2022, Sulliden Mining Capital Inc. (TSX: SMC) (“Sulliden” or the “Company”) acquired 7,142,857 Units (“Units”) of Xander Resources Inc. (“Xander”) (TSXV: XND) (OTCQB: XNDRF) (FSX: 1XI) pursuant to Xander’s non-brokered private placement. Each Unit consists of one common share of Xander and one transferable common share purchase warrant exercisable at a price of $0.10 per share until April 29, 2025.

Prior to the acquisition of the aforesaid securities, Sulliden did not, neither directly nor indirectly beneficially own Xander common shares. As a result of this transaction, Sulliden now owns 7,142,857 common shares and 7,142,857 warrants, which represents approximately 10.18% of the outstanding common shares of Xander on an undiluted basis and 18.48% on a diluted basis.

Sulliden acquired the common shares for investment purposes. Sulliden may acquire additional securities of Xander in the future, may dispose of some or all of the securities or may continue to hold their respective current positions.

A copy of the early warning report filed in respect of the above transaction is available under the Company’s profile on SEDAR at www.sedar.com.

About Sulliden Mining Capital Inc.

Sulliden is a mining company focused on acquiring and advancing brownfield, development-stage and early production-stage mining projects in the Americas.

Sulliden Mining Capital Inc.

On behalf of the Board

“Stan Bharti”
Interim Chief Executive Officer

For more information:
Ryan Ptolemy
Chief Financial Officer
[email protected]

Cautionary statement regarding forward-looking information

This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, without limitation, statements regarding the Company’s future plans, operations and activities, projected mineralization, predictions with respect to precious and base metal markets, and the ability of the Company to execute its business plans. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including risks inherent in the mining industry and risks described in the public disclosure of the Company which is available under the profile of the Company on SEDAR at www.sedar.com and on the Company's website at www.sulliden.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Neither the TSX nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.