The company has issued 21,490,000 flow-through units at a price of $0.05 per unit. Each unit comprises one common share of Xmet and one half common share purchase warrant.
Each full warrant allows the holder to acquire one common share of Xmet at a price of $0.055 until 21 November 2017.
Xmet chairman and CEO Alexander Stewart said: "There is a good deal of excitement surrounding our Blackflake West and Grasset projects and now we are funded to fully complete their respective drill programs."
The company also issued 1,170,000 hard dollar units to investors at $0.05 per unit, comprising one common share of Xmet and one common share purchase warrant.
Under each warrant, the holder will be able to acquire one common share of Xmet for $0.055 until 21 November 2017.
The Blackflake Project covers over 30,000 acres of 100%-owned claims and 8,000 acres of 50%-owned or optioned claims 60km to the northwest of Hearst, Ontario.
