CALGARY, Feb. 5 /CNW/ - Boxxer Gold Corp. (TSX-V:BXX) reported today that
two directors of Boxxer have arranged the sale of 1,894,000 shares at a price
of $0.035 per share through the facilities of the TSX Venture Exchange.
The net proceeds from this sale will be used to fund a private placement
of up to 2,000,000 units of Boxxer at a price of $0.035 per unit, with each
unit being comprised of one common share of Boxxer and one-half transferable
common share purchase warrant. Each full warrant entitles the owner to acquire
an additional common share of Boxxer for a period of eighteen (18) months at a
price of $0.10 per common share. Proceeds from the private placement will be
used for general working capital. As part of the consideration to facilitate
this transaction, a 10% broker warrant amounting up to 189,400 warrants will
be issued to certain members of the TSX Venture Exchange on the gross proceeds
of the transaction. Each broker warrant is exerciseable into one common share
at a price of $0.05 for the first twelve (12) months, and at $0.10 for the
next six (6) months. The private placement is subject to regulatory approval.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange) accept
responsibility for the adequacy or accuracy of this release.
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. A description of 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 the company's disclosure documents on the SEDAR
website at www.sedar.com. The company does not undertake to update any
forward-looking information except in accordance with applicable securities
For further information:
For further information: Elmer B. Stewart, President & Chief Executive
Officer, Tel: (403) 264-4811, e-mail: email@example.com; Colin B.
Christensen, Vice President, Tel: (403) 264-4811, Fax: (403) 237-6292,