Me so horny!! Boxxer Gold (BXX-V) Aug 29, '14 further to news releases dated Aug. 19, 2014, and Aug. 26, 2014, has closed its previously announced financing, raising total gross proceeds of $620,000 by way of a non-brokered private placement of units of the corporation at a price of four cents per unit. The offering was oversubscribed by $120,000, and the corporation has received conditional acceptance from the TSX Venture Exchange to close on this oversubscribed amount. In total, 15.5 million units were issued pursuant to the offering. The offering was made pursuant to a waiver granted by the TSX-V, permitting the corporation to offer the units at a price of four cents per unit. Each unit consists 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 at any time after the completion of the offering, the closing price of the common shares on the TSX-V 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. The securities issued in connection with the offering will be subject to a four-month-and-one-day hold period from the date of issuance of such securities (until Dec. 30, 2014).
Finders acting in connection with the offering received finders' fees of 37,894 and 947,360 finder warrants. Each finder warrant entitles the holder to purchase one common share at an exercise price of five cents per common share for a period of one year after the closing of the offering.
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.
The completion of the offering is subject to final TSX-V acceptance. One director of Boxxer participated in the offering, purchasing a total of 1.25 million units, and Boxxer has determined that there are exemptions available for the various requirements of TSX-V Policy 5.9 and Multilateral Instrument 61-101 for the issuance of these units (formal valuation -- issuer not listed on specified markets; minority approval -- fair market value not more than $2.5-million). No new insiders were created, nor has any change of control occurred, as a result of this offering. |
