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Boxxer Closes $1,100,000 Private Placement
Boxxer Closes $1,100,000 Private Placement
About this update from Exgen Resources Inc.
[{"type":"text","content":"\nBoxxer Closes $1,100,000 Private Placement\n\n\n Apr. 19, 2010 (Filing Services Canada) -- Boxxer Gold Corp. (BXX - TSX Venture), today announced it has closed the final oversubscribed tranche of its non-brokered private placement with the sale of $509,700 of Units as the final tranche resulting in aggregate gross proceeds from the four tranches of $1,100,000.  As was first announced on January 27, 2010, the aggregate gross proceeds of the private placement was increased from $1,000,000 to $1,100,000.  The private placement is subject to final TSX Venture Exchange approval.On this final tranche, Boxxer issued 5,097,000 Units at $0.10 per Unit for gross proceeds of $509,700.  In the first three tranches, 5,903,000 Units were sold for gross proceeds of $590,300. The total number of Units sold on all four tranches was 11,000,000 Units for aggregate gross proceeds of $1,100,000.  Each Unit consists of one common share in the share capital of Boxxer (\"Common Share\") and one-half of a Common Share purchase warrant (\"Warrant\").  Each Warrant will entitle the holder to purchase one (1) common share in the share capital of the Corporation (a \"Warrant Share\") at a price of $0.12 prior to the date that is six (6) months from the date of the issuance of the Units (the \"First Exercise Period\"), and at a price of $0.15 at any time after the First Exercise Period and prior to the date that is twelve (12) months from the date of issuance of the Units.  These securities were issued with a four month hold period expiring on August 20, 2010.  A finder's fee was paid to Union Securities Ltd. for the final tranche of Units sold, consisting of $16,000 in cash, and 200,000 finder's warrants, such finder's warrants exercisable into Units on the same terms as the investor Units.  The proceeds of the private placement will be used primarily for follow-up exploration of the recently identified geophysical targets, additional interpretation of geophysical data, as well as for general working capital purposes. Boxxer Gold CorpElmer B. StewartPresident & Chief Executive OfficerTel: 1-403-264-4811Cel: 1-403-680-9584e-mail: [email protected]    Boxxer Gold CorpJohn L. MaslanykVice President & Chief Information OfficerTel: 1-403-804-2251Toll Fre...