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Boxxer Closes First Tranche of Private Placement, Drilling to Start on Boss
CALGARY, March 5 /CNW/ - Boxxer Gold Corp. (TSX-V:BXX) ("Boxxer" or the "Corporation") today anno...
About this update from Exgen Resources Inc.
[{"type":"text","content":"\n\n\n\nCALGARY, March 5 /CNW/ - Boxxer Gold Corp. (TSX-V:BXX) ("Boxxer" or the\n"Corporation") today announced it has closed a first tranche of the\nnon-brokered private placement of the $510,000 financing previously announced\non February 17, 2009. Boxxer issued 4,925,000 Units at $0.03 per Unit for\ngross proceeds of $147,750. Each Unit consisted of one common share in the\nshare capital of Boxxer ("Common Share") and one-half of a Common Share\npurchase warrant ("Warrant"). Each whole Warrant shall be exercisable for 18\nmonths from the date of issuance into one Common Share at a price of $0.10 per\nCommon Share. A finder's fee totaling $9,420, and finder's warrants totaling\n492,500, was paid to Union Securities Ltd., Blackmont Capital Inc., Wolverton\nSecurities Ltd. and PI Financial Inc. for their participation in this private\nplacement. Each finder's warrant is exercisable for 18 months from the date of\nissuance at $0.10 into one Common Share and one-half of a Warrant. These\nsecurities were issued with a four month hold period expiring on July 3, 2009.\nAdditional closings will take place in the near future.\n\n\nBoss Property Drilling Program\n\n\nThe rig contracted from Marcus and Marcus Exploration has been mobilized\nto the Boss property in southern Nevada. It is anticipated that the Company\nwill commence with the drilling program next week.\n\n\nThe proposed drilling exploration program is intended to test the\ncopper-gold mineralization related to a skarn-related porphyry system modelled\non the property, with a seven hole 1,500 metre drill program covering the Boss\nmine, Boss extension, and Oro Amigo portions of the property.\n\n\nNeither TSX Venture Exchange nor its Regulation Services Provider (as\nthat term is defined in the policies of the TSX Venture Exchange) accept\nresponsibility for the adequacy or accuracy of this release.\n\n\nForward-Looking Statements: This news release may contain certain\nforward-looking information. All statements included herein, other than\nstatements of historical fact, is forward-looking information and such\ninformation involves various risks and uncertainties. There can be no\nassurance that such information will prove to be accurate, and actual results\nand future events could differ materially from those anticipated in such\ninfo...