BXX-V PP Aug 19, '14 - NR Message 29684313
Boxxer Gold Corp. intends to raise up to $250,000 by way of a non-brokered private placement of units of the corporation at a price of four cents per unit. The offering is being made pursuant to a waiver granted by the TSX Venture Exchange, which permits the corporation to offer the units at a price below the TSX Venture Exchange's five-cent minimum pricing requirement. Subject to certain limitations discussed below, the offering is open to all existing shareholders of the corporation, and any existing shareholders interested in participating in the offering should contact the corporation pursuant to the contact information set forth below. The offering is expected to close on or about Aug. 29, 2014, and the offering is subject to TSX-V final acceptance.
The offering
The maximum offering is 6.25 million units for gross proceeds of $250,000. The offering is not subject to any minimum aggregate subscription. Each unit will consist of one common share in the share capital of Boxxer and one common share purchase warrant. Each warrant shall be exercisable into one common share at a price of six cents until two years from the date of closing of the offering. 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 is at least 10 cents 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. A finder's fee of up to 8 per cent of the gross proceeds of the offering may be paid in cash on all or any portion of the offering. Additionally, finders' warrants exercisable into common shares of Boxxer may be issued in an amount up to 8 per cent of the number of units sold under the offering. Finders' warrants will be exercisable into common shares at a price of five cents per common share for a period of one year from the date of issuance of such finders' warrants. The proceeds of the offering will be used primarily to maintain and preserve the corporation's interest in its exploration properties, and for general working capital purposes. Assuming the entire $250,000 offering is completed, the detailed use of proceeds will be as shown in the attached table. |
