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In many cases, the end of the year gives you time to step back and take stock of the last 12 months. This is when many of us take a hard look at what worked and what did not, complete performance reviews, and formulate plans for the coming year. For me, it is all of those things plus a time when I u...
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Xmet Announces Closing of Non-Brokered Private Placement Flow Through Financing

TORONTO, ONTARIO -- (Marketwire) -- 12/28/12 -- Xmet Inc. (TSX VENTURE:XME) ("Xmet") is pleased to announce that, subject to the acceptance of the TSX Venture Exchange (the "Exchange") it has closed an expedited non-brokered private placement offering of 4,387,500 common shares in the capital of Xmet (each, a "Common Share") issued on a flow through basis for aggregate gross proceeds of $351,000 (the "Offering").

The proceeds of the Offering will be used by Xmet for additional work on its Quebec projects.

The securities issued in connection with the closing of the Offerings will be subject to a four month hold period expiring on March 28, 2013.

In connection with the closing of the Offering, Xmet paid a cash finder's fee of $28,080 (equal to 8% of the aggregate gross proceeds raised in connection with the Offering) and issued 307,125 non-transferable compensation options exercisable at $0.08 per compensation option to acquire 307,125 Common Shares expiring on December 28, 2014 (equal to 7% of the aggregate number of Common Shares issued in connection with the Offering).

The Offering remains subject to final acceptance by the Exchange.

About Xmet Inc.

Xmet is a gold exploration company focused on advanced projects in existing mining camps in Canada where exploration and mining costs are minimized and where previous and historic producing mines make for much easier permitting. Xmet's flagship project, the Duquesne-Ottoman property, which covers an area of 928.6 hectares, is located approximately 30 kilometres north of the city of Rouyn-Noranda and 10 kilometres east of the village of Duparquet within the townships of Duparquet and Destor in the Province of Quebec.

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.

Contacts:
Xmet Inc.
Charles Beaudry
President & CEO
(416) 644-6588
cbeaudry@xmet.ca

Xmet Inc.
Stephen Stewart
VP Corporate Development
(416) 644-6588
sstewart@xmet.ca

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