Business
Boxxer Announces $1,200,000 Flow-Through Financing
Jun. 23, 2011 (Filing Services Canada) -- Boxxer Gold Corp. (BXX - TSX Venture, BXXRF - OTCBB_P...
About this update from Exgen Resources Inc.
[{"type":"text","content":"\nBoxxer Announces $1,200,000 Flow-Through Financing\n\n Jun. 23, 2011 (Filing Services Canada) -- Boxxer Gold Corp. (BXX - TSX Venture, BXXRF - OTCBB_Pink_Sheets), wishes to announce that it has signed an engagement letter with D&D Securities Inc., a Toronto, Ontario based registered investment dealer, to assist Boxxer on a best efforts basis in raising up to $1,200,000 from an offering of up to 4,000,000 Units, priced at $0.30 per Unit.  Each Unit consists of one common share issued on a flow-through basis and one-half of one non-flow-through common share purchase warrant.  Each full warrant is exercisable at $0.40 into one non-flow-through common share at any time prior to the earlier of: (i) the date that is eighteen months from the date of the issuance of the Units; and (ii) in the event that the closing price of the common shares of Boxxer on the TSX Venture Exchange is at least $0.45 for a minimum of 10 consecutive trading days, Boxxer may, in its sole discretion, provide written notice to the warrantholders that the exercise period has been reduced to 25 days following delivery of such notice.  The proceeds of the offering will be used for exploration on Boxxer's recently acquired DOK porphyry copper property in NW B.C., and the East Breccia copper-silver-molybdenum property in south-central Ontario.  The East Breccia property transaction is still subject to regulatory approval.  A 7% commission and 10% Broker Warrants will be payable on the closing of the offering.  Each Broker Warrant is exercisable into one common share of Boxxer for a period of eighteen months at a price of $0.30 per share.Flow-Through Exploration ActivityAs announced in recent news releases (See news release dated May 26, 2011), exploration on the DOK property in NW B.C. will consist of an airborne geophysical survey which is planned for late July, and a Quantec Titan-24 ground geophysical survey to be completed in early to mid-September. Certain detailed geological sampling and mapping may also be undertaken during the summer months.Exploration on the East Breccia property will consist of geological mapping and the research of old drill collars on the property, with the objective of twinning certain drill holes based on assays from extensive historical drilling results from previous drilli...