CALGARY,
Dec. 11, 2013 /CNW/ - Boxxer Gold
Corp. (TSX Venture: BXX/OTC: BXXRF) ("Boxxer" or the
"Corporation") today announced its intention to raise up to
$250,000 by way of a non-brokered
private placement (the "Offering"). The Offering is expected
to close on or about December 20,
2013, and the Offering is subject to regulatory
approval.
Financing:
A total of up to 5,000,000 Units will be offered
for sale at a price of $0.05 per Unit
to raise total proceeds of $250,000.
Each Unit will consist of one Common Share in the share capital of
Boxxer and one Common Share purchase Warrant ("Warrant").
Each Warrant shall be exercisable into one Common Share at a price
of $0.05 until five (5) years from
the date of closing. Each Warrant is subject to accelerated expiry
provisions such that if any time after the completion of the
Offering the closing price of the Common Shares on the TSX Venture
Exchange is at least $0.10 per Common
Share for 15 consecutive days the Corporation may give notice to
the holders that each warrant will expire 15 business days from the
date of providing such notice. The proceeds of the Unit
Offering will be used primarily for general working capital
purposes.
A finder's fee of up to 8% of the gross proceeds
of the Offering may be paid in cash on all or any part of the
Offering. Additionally, finder's warrants exercisable into Common
Shares of Boxxer may be issued in an amount up to 8% of the number
of Units sold under the Offering. The finder's warrants will be
exercisable into Common Shares at a price of $0.05 per Common Share for a period of one year
from the date of issuance of the finder's warrants.
About Boxxer Gold Corp.
Boxxer is a Canadian junior resource company
involved in the exploration for large polymetallic copper deposits
in North America. Boxxer's active
projects include the Boss and Buena Vista copper projects in the
state of Nevada, the Empire
copper-gold-silver property in Idaho, the DOK copper-gold porphyry property
in Northwest B.C., and the East Breccia copper-silver-molybdenum
property in Ontario. Boxxer
also has the Gordon Lake gold project located 110 kilometres north
of Yellowknife NWT, Canada.
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility 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, is 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. In particular, this
press release contains forward looking information in relation to
the closing of the Offering and the use of proceeds of the
Offering. There is no certainty that the proposed Offering
will be completed or that the use of proceeds for the Offering will
be used as stated in this press release. For any
forward-looking information given, Management has assumed that
market conditions will support the Offering and that the costs and
expenses for the use of proceeds stated in this press release will
be consistent with past similar expenditures. Although
Management has a reasonable basis for any conclusions drawn, actual
results may differ materially from those currently anticipated in
such forward-looking statements. Additional assumptions used
to develop such forward-looking information and a description of
risk factors that may cause actual results to differ materially
from forward-looking information can be found in Boxxer's
disclosure documents on the SEDAR website at
www.sedar.com. Boxxer does not undertake to update any
forward-looking information except in accordance with applicable
securities laws.
SOURCE Boxxer Gold Corp.