To: Goose94 who wrote (8706 ) 8/26/2014 5:37:13 PM From: Goose94 Read Replies (1) | Respond to of 202399 Boxxer Gold ( BXX-V) Aug 26, '14 is pleased to announce that, further to its news release dated August 19, 2014, the maximum gross proceeds of the non-brokered private placement of units of the Corporation at a price of $0.04 per Unit has been increased to $500,000. 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 $0.06 until two (2) 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 Exchange is at least $0.10 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 Offering is expected to close on or about August 29, 2014, and the Offering is subject to TSX Venture final acceptance. The securities issued in connection with the Offering will be subject to a four month and 1 day hold period from the date of issuance of such securities. 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 $500,000 Offering is completed, the revised detailed use of proceeds will be as follows:Intended Use of Proceeds Approximate Amount Property Maintenance Costs $270,000 Finder's Fees, Legal Fees, TSX Venture Fees $80,000 Working Capital $50,000 Accounts Payable $100,000 Total $500,000
Although the Corporation intends to use the proceeds of the Offering as described above, the actual allocation of the net proceeds of the Offering may vary from the uses set forth above, depending on future operations or unforeseen events or opportunities. It is not currently anticipated that any of proceeds of the Offering will be used for payments to Related Parties of the Corporation (as defined in the policies of the TSX Venture). If the Offering is not fully subscribed, the Corporation will apply the proceeds of the Offering to the above uses in priority and in such proportions as the Board of Directors and Management of the Corporation determine is in in the best interests of the Corporation. Other than increasing the gross proceeds of the Offering to $500,000 and revising the use of proceeds of the Offering for this increase as set forth above, all other terms of the Offering remain as stated in the August 19, 2014 news release. For further information on the Offering, please see the Corporation's August 19, 2014 news release which can found on Boxxer's SEDAR profile on the SEDAR website at www.sedar.com .