Xmet Filing First Quarter 2014 Financials; Proceeding on Blackflake West
TORONTO, ONTARIO--(Marketwired - May 30, 2014) - Xmet Inc. ("Xmet" or the "Corporation") (TSX VENTURE:XME) is pleased to announce that today it is filing its First Quarter 2014 Financial Statements for the period ending March 31, 2014. The documents will be available for viewing on Sedar.com later today. As per the financial statements Xmet had positive working capital of $677,714 as at the period end. This has been augmented by the Company's financing in the gross amount of $300,000 completed in April 2014 (see news release April 11, 2014).
"As we proceed to develop and ultimately drill test our new All Channel VTEM response graphite target, Xmet is adequately financed to carry out the task at hand,' said Alexander Stewart, Xmet Chairman and CEO. He continued by noting, 'We also would like to emphasize the value of an 'All-Channel' EM response when looking for graphite. As detailed in previous news releases, an 'All Channel' EM response refers to the early, mid and late channel responses received from the electromagnetics with the mid and late channel response indicating continuity in the conductivity at depth. This type of response is significant when looking for a vertical graphitic ore body."
Neither 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 this release.
Certain information in this press release may contain forward-looking statements. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Xmet assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to Xmet. Additional information identifying risks and uncertainties is contained in filings by Xmet with Canadian securities regulators, which filings are available under Xmet's profile at www.sedar.com.
