ExGen Announces $2,000,000 Common Share Private Placement
23 Noviembre 2021 - 10:23AM
ExGen Resources Inc. (TSX.V: EXG; OTC: BXXRF)
(“
ExGen”) is pleased to announce that it intends
to complete a non-brokered private placement offering of up to
20,000,000 common shares in the capital of ExGen (“
Offered
Shares”) at a price of $0.10 per Offering Share, for gross
proceeds of up to $2,000,000 (the “
Private
Placement”).
ExGen intends to complete the Private Placement
using available prospectus exemptions under securities laws
including the accredited investor exemption and the close friends,
family and business associates exemption. Any investors interested
in participating in the Private Placement should contact ExGen
pursuant to the contact information set forth below. Closing of the
Private Placement is anticipated to occur on or around December
3rd, 2021. A finder’s fee of up to 7% of the gross proceeds of the
Private Placement may be paid in cash or ExGen common shares on
all or any portion of the Private Placement. The net proceeds from
the Private Placement will be used for potential exploration and
development on ExGen’s properties including the Empire Mine
Project, potential future acquisitions and general working
capital.
It is not anticipated that any new insiders
will be created, nor that any change of control will occur, as a
result of the Private Placement. Any participation by insiders of
ExGen in the Private Placement will be on the same terms as arm’s
length investors. There is no minimum aggregate subscription
amount for the Private Placement, but completion of the Private
Placement is subject to all regulatory approvals, including the
TSXV acceptance. Depending on market conditions, the gross
proceeds of the Private Placement could be increased or decreased.
All securities issued in connection with the Private Placement will
be subject to a hold period of four months and one day from the
date of closing. For further details on the Private Placement,
please contact ExGen at the contact information set forth below.
About ExGen Resources Inc.
ExGen, formerly Boxxer Gold Corp, is a project
accelerator that seeks to fund exploration and development of our
projects through joint ventures and partnership agreements. This
approach significantly reduces the technical and financial risks
for ExGen, while maintaining the upside exposure to new discoveries
and potential cash flow. ExGen intends to build a diverse portfolio
of projects across exploration stages and various commodity groups.
ExGen currently has 5 projects in Canada and the US.For more
information on ExGen please contact ExGen Resources Inc.:
|
Jason TongChief Financial OfficerEmail: jason@catapultgroup.ca |
|
Neither the 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 news release.
This news release contains certain
forward-looking information. All statements included herein, other
than statements of historical fact, are forward-looking information
and such information involves various risks and uncertainties. In
particular, this news release contains forward-looking information
in relation to: the Private Placement, including, the magnitude of
the Private Placement, the potential closing date of the Private
Placement, the potential use of proceeds of the Private Placement,
including potential exploration and development of ExGen’s
properties and potential future acquisitions, the potential
exemptions used for the Private Placement and any potential
finder’s fee paid on the Private Placement; and ExGen’s business
model, goals and approach as a project accelerator, including
ExGen’s intention to fund projects through joint ventures and
partnerships, and its intention to diversify its portfolios of
projects across exploration stages and commodity groups. 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. This forward-looking
information reflects ExGen's current beliefs and is based on
information currently available to ExGen and on assumptions ExGen
believes are reasonable. These assumptions include, but are not
limited to: the current share price of ExGen's common shares; TSXV
acceptance and market acceptance of the Private Placement; ExGen’s
current and initial understanding and analysis of its projects;
ExGen's general and administrative costs remaining constant; market
acceptance of ExGen's business model, goals and approach; the
availability of potential acquisitions and prices acceptable to
ExGen; and the feasibility and reasonableness of conducting
exploration on and developing any of ExGen’s projects.
Forward-looking information is subject to known and unknown risks,
uncertainties and other factors which may cause the actual results,
level of activity, performance or achievements of ExGen to be
materially different from those expressed or implied by such
forward-looking information. Such risks and other factors may
include, but are not limited to: there is no certainty that the
ongoing work programs will result in significant or successful
exploration and development of the Empire Mine Project, or other
projects, or development of the Empire Mine Project into a
producing mine; uncertainty as to the actual results of
exploration and development or operational activities; uncertainty
as to the availability and terms of future financing on acceptable
terms; uncertainty as to timely availability of permits and other
governmental approvals; ExGen may not be able to comply with its
ongoing obligations regarding its properties including the Empire
Mine Project; the early stage development of ExGen and its
projects; general business, economic, competitive, political and
social uncertainties; capital market conditions and market prices
for securities, junior market securities and mining exploration
company securities; commodity prices, in particular copper, gold,
silver and zinc prices; the actual results of current exploration
and development or operational activities; competition; changes in
project parameters as plans continue to be refined; accidents and
other risks inherent in the mining industry; lack of insurance;
delay or failure to receive board or regulatory approvals; changes
in legislation, including environmental legislation or income tax
legislation, affecting ExGen; conclusions of economic evaluations;
and lack of qualified, skilled labour or loss of key individuals. A
description of additional risk factors which may cause actual
results to differ materially from forward-looking information can
be found in ExGen's disclosure documents on the SEDAR website at
www.sedar.com. Although ExGen has attempted to identify important
factors that could cause actual results to differ materially from
those contained in forward-looking information, there may be other
factors that cause results not to be as anticipated, estimated or
intended. Accordingly, readers should not place undue reliance on
forward-looking information. ExGen does not undertake to update any
forward-looking information except in accordance with applicable
securities laws.
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