CALGARY, Dec. 11, 2013 /CNW/ - Boxxer Gold Corp. (TSX Venture: BXX/OTC:
BXXRF) ("Boxxer" or the "Corporation") today announced its intention to raise up to $250,000 by way of a
non-brokered private placement (the "Offering"). The Offering is
expected to close on or about December 20, 2013, and the Offering is
subject to regulatory approval.
A total of up to 5,000,000 Units will be offered for sale at a price of
$0.05 per Unit to raise total proceeds of $250,000. Each Unit will
consist of one Common Share in the share capital of Boxxer and one
Common Share purchase Warrant ("Warrant"). Each Warrant shall be
exercisable into one Common Share at a price of $0.05 until five (5)
years from the date of closing. Each Warrant is subject to accelerated
expiry provisions such that if any time after the completion of the
Offering the closing price of the Common Shares on the TSX Venture
Exchange is at least $0.10 per Common Share for 15 consecutive days the
Corporation may give notice to the holders that each warrant will
expire 15 business days from the date of providing such notice. The
proceeds of the Unit Offering will be used primarily for general
working capital purposes.
A finder's fee of up to 8% of the gross proceeds of the Offering may be
paid in cash on all or any part of the Offering. Additionally, finder's
warrants exercisable into Common Shares of Boxxer may be issued in an
amount up to 8% of the number of Units sold under the Offering. The
finder's warrants will be exercisable into Common Shares at a price of
$0.05 per Common Share for a period of one year from the date of
issuance of the finder's warrants.
About Boxxer Gold Corp.
Boxxer is a Canadian junior resource company involved in the exploration
for large polymetallic copper deposits in North America. Boxxer's
active projects include the Boss and Buena Vista copper projects in the
state of Nevada, the Empire copper-gold-silver property in Idaho, the
DOK copper-gold porphyry property in Northwest B.C., and the East
Breccia copper-silver-molybdenum property in Ontario. Boxxer also has
the Gordon Lake gold project located 110 kilometres north of
Yellowknife NWT, Canada.
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.
Forward-Looking Statements: This news release may contain certain forward-looking information.
All statements included herein, other than statements of historical
fact, is forward-looking information and such information involves
various risks and uncertainties. There can be no assurance that such
information will prove to be accurate, and actual results and future
events could differ materially from those anticipated in such
information. In particular, this press release contains forward
looking information in relation to the closing of the Offering and the
use of proceeds of the Offering. There is no certainty that the
proposed Offering will be completed or that the use of proceeds for the
Offering will be used as stated in this press release. For any
forward-looking information given, Management has assumed that market
conditions will support the Offering and that the costs and expenses
for the use of proceeds stated in this press release will be consistent
with past similar expenditures. Although Management has a reasonable
basis for any conclusions drawn, actual results may differ materially
from those currently anticipated in such forward-looking statements.
Additional assumptions used to develop such forward-looking information
and a description of risk factors that may cause actual results to
differ materially from forward-looking information can be found in
Boxxer's disclosure documents on the SEDAR website at www.sedar.com.
Boxxer does not undertake to update any forward-looking information
except in accordance with applicable securities laws.
SOURCE: Boxxer Gold Corp.
For further information:
on Boxxer please visit our website at www.boxxergold.com or contact Boxxer Gold Corp.
Elmer B. Stewart
President and Chief Executive Officer