Business
Boxxer Closes $1,000,000 Private Placement
Boxxer Closes $1,000,000 Private Placement
About this update from Exgen Resources Inc.
[{"type":"text","content":"\n\n\n\nSep. 16, 2009 (Canada NewsWire Group) -- CALGARY, Sept. 16 /CNW/ -- Boxxer Gold Corp. (TSX-V:BXX) (\"Boxxer\" or the \"Corporation\") today announced it has closed the non-brokered $1,000,000 private placement financing previously announced on August 7, 2009. Boxxer issued 25,000,000 Units at $0.04 per Unit for gross proceeds of $1,000,000. Each Unit consisted of one common share in the share capital of Boxxer (\"Common Share\") and one Common Share purchase warrant (\"Warrant\"). Each Warrant shall be exercisable for 12 months from the date of issuance into one Common Share at a price of $0.08 per Common Share. A finder's fee totaling $35,040, and finder's warrants totaling 1,095,000, was paid for participation in this private placement. Each finder's warrant is exercisable for 12 months from the date of issuance into Units exercisable at $0.05 per Unit, including one Warrant exercisable into one common share at $0.08. These securities were all issued with a four month hold period expiring on January 17, 2010.The proceeds of the private placement will be used to continue exploration of Boxxer's Boss copper-gold project located in the Goodsprings Mining District, southwest Nevada. Exploration includes but is not limited to a high sensitivity magnetic, radiometric and electromagnetic airborne geophysical survey, ground follow-up of targets outlined by the airborne survey and diamond drilling of existing targets. The Company will also use the proceeds for general working capital.Neither TSX Venture Exchange nor its Regulation Services Provider (asthat term is defined in the policies of the TSX Venture Exchange) acceptresponsibility 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, are 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. For any forward looking information given, management has applied geological interpretation methodologies which are consistent with industry standards. Although management has a reasonable basis for the conclusions ...