Business
Boxxer announces $1.75 million private placement to fund drilling on East Breccia and Gordon Lake projects
CALGARY, Sept. 28, 2012 /CNW/ - Boxxer Gold Corp. (TSX Venture: BXX/OTC: BXXRF ) (" Boxx...
About this update from Exgen Resources Inc.
[{"type":"text","content":"\n\n\n\n\n\nCALGARY, Sept. 28, 2012 /CNW/ - Boxxer Gold Corp. (TSX Venture: BXX/OTC: BXXRF) (\"Boxxer\" or the \"Corporation\") today announced its intention to raise up to $1,750,000 by way of a\n non-brokered private placement (the \"Offering\") of a combination of units (\"Units\") and flow-through units (\"FT Units\").  The Offering is expected to close on or about November 15, 2012,\n and the Offering is subject to regulatory approval.\n\n\nFinancing:\n\n\nA total of up to 10,000,000 Units will be offered for sale at a price of\n $0.075 per Unit to raise total proceeds of up to $750,000. Each Unit\n will consist of one common share in the share capital of Boxxer (\"Common Share\") and one-half of a Common Share purchase warrant (each whole warrant,\n a \"Warrant\").  Each whole Warrant shall be exercisable into one Common Share at a\n price of $0.12 until one (1) year from the date of closing.\n\n\nIn addition, a total of up to 10,000,000 FT Units will be offered for\n sale at a price of $0.10 per FT Unit to raise total proceeds of up to\n $1,000,000.  Each FT Unit will consist of one Common Share issued on a\n \"flow-through\" basis as defined in the Income Tax Act (Canada) and one-half of a non-flow-through Warrant.  Each whole\n Warrant shall be exercisable into one Common Share at a price of $0.12\n until one (1) year from the date of closing.\n\n\nEach Warrant (whether issued as part of the Units or the FT Units) is\n subject to accelerated expiry provisions such that if any time after\n the completion of the Offering the closing price of the Common Shares\n on the TSX Venture Exchange is at least $0.12 per Common Share for 15\n consecutive days the Corporation may give notice to the holders that\n each Warrant will expire 15 business days from the date of providing\n such notice.\n\n\nThe proceeds of the Offering will be used primarily for additional\n diamond drilling on the East Breccia copper-molybdenum project in\n Ontario and the Gordon Lake gold project located in the NWT, Canada and\n for general working capital purposes.\n\n\nA finder's fee of up to 9% of the gross proceeds of the Offering may be\n paid in cash on all or any part of the Offering. Additionally, finder's\n warrants exercisable into Common Shares of Boxxer may be issued in an\n amount up to 9% of the number of Units and FT Uni...