Erdene Resource Development Corporation press release
Boxxer announces private placement
TSX - Toronto Stock Exchange · Gold · Silver · Lead · Zinc · Molybdenum · Antimony · Copper · Canada
CALGARY, Aug. 7 /CNW/ - Boxxer Gold Corp. (TSX-V:BXX) today announced an update on activities relating to the Company's proposed private placement and planned exploration program for its 100% owned Boss Project located in southwest Nevada.
25,000,000 Unit Private Placement
Boxxer today announced its intention to issue up to 25,000,000 Units priced at $0.04 per Unit to raise gross proceeds of $1,000,000. Each Unit will consist of one common share in the share capital of Boxxer ("Common Share") and one Common Share purchase warrant ("Warrant"). Each Warrant shall be exercisable for 12 months from the date of issuance into one Common Share at a price of $0.08 per Common Share. The issuance of these Units is subject to regulatory approval. A finder's fee of 8% cash and 10% broker warrants is payable in relation to the proposed private placement in line with the policies of the TSX Venture Exchange.
Boxxer will use the proceeds to fund its ongoing exploration program which includes an airborne geophysical survey surface follow-up of targets outlined in the geophysical program including additional land acquisitions and a diamond drilling program on its Boss property as well as for general working capital purposes.
Boxxer Gold President & CEO Elmer B. Stewart commented, "We anticipate commencing the exploration program in early September. The result of the airborne survey will be very helpful in our further understanding of the geology of the Goodsprings District and may help refine proposed diamond drilling targets. Once determined, we plan to drill approximately 2,500 metres."
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept 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. A description of 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 the company's disclosure documents on the SEDAR website at www.sedar.com. The company does not undertake to update any forward-looking information except in accordance with applicable securities laws.
%SEDAR: 00019646E