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.