XAU Resources Announces New CFO and Proposed Private Placement

Toronto, Ontario–(Newsfile Corp. – April 7, 2020) –  XAU RESOURCES INC. (TSXV: GIG.P) (the “Corporation“) is pleased to announce that Andrey Maruta has been appointed as its Chief Financial Officer and Corporate Secretary.

Mr. Maruta has over 16 years of experience in the mining and metals industry, including his current position as Group Chief Financial Officer for Kore Potash plc, a company listed on the AIM, JSE and ASX exchanges, and past experience as Chief Financial Officer of Petropavlovsk plc, an LSE listed company. To comply with TSX Venture Exchange rules mandating that CPC management team members own shares of the CPC, Mr. Maruta intends to subscribe for 200,000 common shares of the Corporation at a price of $0.05 per share, raising gross proceeds of $10,000. The subscribed for shares will be subject to escrow in accordance with the TSX Venture Exchange’s CPC escrow policy.

Mr. Maruta’s appointment as an officer of the Corporation and his proposed subscription for common shares of the Corporation are subject to TSX Venture Exchange approval.

For further information please contact:

Gary Bay
Chief Executive Officer
Tel: 647-339-4301

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 this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/54227