CALGARY,
Nov. 17, 2011 /PRNewswire/ - Boxxer
Gold Corp. (TSX Venture: BXX/OTC BXXRF) ("Boxxer" or the
"Corporation") today announced its intention to raise up to
$2,600,000 by way of a non-brokered
private placement (the "Offering") consisting of a combination of
Non-Flow Through Units and Flow-Through Units. The Offering
is expected to close on or about December
15, 2011, and the Offering is subject to regulatory
approval.
A total of up to 10,000,000 Non-Flow-Through
Units will be offered for sale at a price of $0.11 per Unit to raise total gross proceeds of
$1,100,000. Each
Non-Flow-Through Unit will consist of one Non-Flow-Through Common
Share in the share capital of Boxxer and one-half of a
Non-Flow-Through Common Share purchase Warrant ("Warrant").
Each whole Warrant shall be exercisable into one Common Share at a
price of $0.20 until expiry on
December 15, 2012.
In addition to the Non-Flow-Through Units a
total of up to 10,000,000 Flow-Through Units will be offered for
sale at a price of $0.15 per
Flow-Through Unit to raise total gross proceeds of $1,500,000. Each Flow-Through Unit will consist
of one Flow-Through Common Share and one-half of a Non-Flow-Through
Common Share purchase Warrant. Each whole Warrant shall be
exercisable into one Common Share at a price of $0.20 until expiry on December 15, 2012.
The proceeds of the Non-Flow-Through Unit
Offering will be used primarily to drill test the strike and depth
extensions of the two zones of copper-gold-silver-molybdenum
mineralization intersected in DDH-07-2011 and previously untested
chargeability anomalies located under the Oro Amigo mine, a former
small copper mine located within the Boss copper-gold project, and
for general working capital purposes. The proceeds of the
Flow-Through Unit Offering will be used to continue exploration,
including diamond drilling on Boxxer's Canadian properties,
including the Gordon Lake gold property in the NWT, the East
Breccia copper-molybdenum-silver property in Ontario, and the DOK porphyry
copper-gold-molybdenum-silver property in northwest, British Columbia.
A finder's fee of up to 9% 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 9% of the number
of Non-Flow-Through Units and Flow-Through Units sold under the
Offering. The finder's warrants will be exercisable into Common
Shares at a price of $0.11 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 focused on the
exploration and discovery of large polymetallic porphyry copper
deposits on its Boss and Buena Vista projects in the state of
Nevada, the DOK
copper-gold-molybdenum porphyry property in Northwest B.C., and the
East Breccia copper-silver-molybdenum property in Ontario. Boxxer also has the Crescent Peak
gold-silver project in Nevada and
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. There is no certainty that the proposed
financing will be completed and that the proposed exploration and
diamond drilling would intersect significant mineralization.
For any forward-looking information given, Management has assumed
that the results it has received and the interpretation thereof are
reliable, and has applied geological and geophysical interpretation
methodologies which are consistent with industry standards.
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.
