Published On: Sun, Aug 31st, 2014

Boxxer Gold Corp. (OTCMKTS:BXXRF): Completed $0.62 Million Private Placement

Boxxer Gold Corp. (OTCMKTS:BXXRF) recently announced to close its previously announced private placement, raising total of $0.62 million in gross proceeds. The company noted that the offering was oversubscribed by $0.12 million and it has received conditional acceptance from the concerned stock exchange to close on this “oversubscribed” amount. The company noted that a total of 15.5 million Units were issued pursuant to the Officer at a price of $0.04 per Unit. Each Unit consists of one common share of the company and one common share purchase warrant. One of the Directors of Boxxer Gold also participated in the placement, purchasing 1.25 million Units. The company also noted that no change of control has occurred or no new insiders were created, as a result of this placement.

Boxxer Gold Corp. (OTCMKTS:BXXRF) noted that the securities issued in connection with the private placement will be subject to a hold of four month and one day period, from the date of issuance. In addition, each warrant is also subject to “Accelerated Expiry Provisions” in a case where the closing price of the company’s stock is at least $0.10 per common share for 15 consecutive days. Each warrant shall be exercisable into a common share at a price of $0.06, until two years from the date of close.

Boxxer Gold Corp. (OTCMKTS:BXXRF) noted that the finders in connection with this offering received finder’s fees of $37,894 and 947,360 warrants, exercisable at $0.05 per common share. Each warrant shall be exercisable until one year after the closing of the Offering. The company plans to use the proceeds for general working capital purposes as well as to maintain its interest in the exploration properties. The company also noted that the completion of this private placement is subject to the stock exchange acceptance.

Boxxer Gold is a Canada-based exploration company with interests in the large polymetallic copper deposits in North America.

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