Business
Boxxer Provides update on proposed $130,000 private placement with Key Venture Capital Inc.
/ NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UN...
About this update from Exgen Resources Inc.
[{"type":"text","content":"\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR\n DISSEMINATION IN THE UNITED STATES/\n\n\nCALGARY, March 20, 2014 /CNW/ - Boxxer Gold Corp. (BXX-TSXV/OTC-BXXRF)\n (the \"Company\", or \"Boxxer\"): Further to a news release issued on January 30, 2014, Boxxer is\n pleased to announce that it has entered into a subscription agreement\n (the \"Subscription Agreement\") with Key Venture Capital Inc. (\"Key\"), a capital pool company, in relation to the participation by Key in a\n maximum $130,000 financing of Boxxer (the \"Private Placement\").  Pursuant to the terms of the Subscription Agreement, Key will\n purchase a minimum of 2,400,000 units ($120,000) and a maximum of\n 2,600,000 units ($130,000) of Boxxer (the \"Boxxer Units\") at a price of $0.05 per Boxxer Unit.  Key intends that the Private\n Placement and subsequent Distribution and Dissolution (as described\n January 30, 2014 news release) will constitute Key's \"Qualifying\n Transaction\" pursuant to Policy 2.4 of the TSX Venture Exchange (the \"TSXV\").  Pursuant to the Private Placement, each Boxxer Unit shall consist\n of one common share and one transferable share purchase warrant (a \"Warrant\").  Each Warrant shall be exercisable for five years at $0.05 per share\n and is subject to accelerated expiry provisions such that if at any\n time after the completion of the Private Placement the closing price of\n the common shares of Boxxer on the TSXV is at least $0.10 per share for\n 15 consecutive days, Boxxer may give notice that each Warrant will\n expire 15 business days from the date of providing such notice.\n\n\nBoxxer also announces that Key has filed on SEDAR its information\n circular dated March 10, 2014 (the \"Circular\") in relation to the proposed Qualifying Transaction of Key and the\n proposed Private Placement.  For further information on the proposed\n Qualifying Transaction of Key and the proposed Private Placement,\n please see Boxxer's news release dated January 30, 2014 and the\n Circular.\n\n\nBoxxer is also pleased to announce that it has conditionally appointed\n Sophia Leung, the Chief Executive Officer and a director of Key, to the\n Board of Directors of Boxxer with such appointment to be conditional\n upon, and only effective upon, the closing of the Private Placement and\n the subsequent Distri...