Xtraction Services Inc. Enters into Merger Agreement and completes $5.4 million financing

March 29, 2019

Xtraction Services Inc. and Carcara Silver Inc. (NEX-SILV.H) today announced that they have entered into a definitive agreement dated March 22, 2019 pursuant to which the parties will complete a business combination. Upon completion of the business combination, the combined entity will carry on the business of Xtraction.

Concurrently with the entering into of the definitive agreement, Xtraction completed a brokered and non-brokered private placement of subscription receipts for gross proceeds of $5,415,000 through a syndicate of agents led by Canaccord Genuity Corp. and Gravitas Securities Inc.

Wildeboer Dellelce LLP is representing Xtraction in connection with the business combination with a team that consists of Jeff Hergott, Michael Rennie, Ragu Anantharajah, Amir Torabi and Jessica Sorbara (corporate/securities/mergers & acquisitions) and Katy Pitch (tax).