Boxxer Gold Completes Private Placement To Rsise $2.2 Million; Proceeds To Be Used For Further Drilling And Exploration In US And Canada
Boxxer Gold Corp. (BXX.V) has completed its non-brokered private placement consisting of non-flow-through flow-through units. Boxxer issued 10,001,364 Non-Flow-Through Units at a price of $0.11 per Non-Flow-Through Unit and 7,767,666 Flow-Through Units at a price of $0.15 per Flow-Through Unit, for aggregate gross proceeds of $2,265,300.
Each Non-Flow-Through Unit consisted of one common share in the share capital of Boxxer and one-half of one 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.
Each Flow-Through Unit consisted of one Common Share issued on a flow-through basis and one-half of one 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 for the second phase of drilling exploration of the Boss project in southern Nevada and for general working capital purposes. The proceeds of the Flow-Through Unit Offering will be used for additional exploration on Boxxer's Canadian properties, including the Gordon Lake gold property in the NWT, the East Breccia property in Ontario, and the DOK property in NW B.C.
Boxxer shares hit a year low of 10 cents on December 19. The shares hit a high of 37 cents on April 11.
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