March 5, 2009
Calgary, Alberta: Boxxer Gold Corp. (TSX-V:BXX) (“Boxxer” or the “Corporation”) today announced it has closed a first tranche of the non-brokered private placement of the $510,000 financing previously announced on February 17, 2009. Boxxer issued 4,925,000 Units at $0.03 per Unit for gross proceeds of $147,750. Each Unit consisted of one common share in the share capital of Boxxer (“Common Share”) and one-half of a Common Share purchase warrant (“Warrant”). Each whole Warrant shall be exercisable for 18 months from the date of issuance into one Common Share at a price of $0.10 per Common Share. A finder’s fee totaling $9,420, and finder’s warrants totaling 492,500, was paid to Union Securities Ltd., Blackmont Capital Inc., Wolverton Securities Ltd. and PI Financial Inc. for their participation in this private placement. Each finder’s warrant is exercisable for 18 months from the date of issuance at $0.10 into one Common Share and one-half of a Warrant. These securities were issued with a four month hold period expiring on July 3, 2009. Additional closings will take place in the near future.
Boss Property Drilling Program
The rig contracted from Marcus and Marcus Exploration has been mobilized to the Boss property in southern Nevada. It is anticipated that the Company will commence with the drilling program next week.
The proposed drilling exploration program is intended to test the copper-gold mineralization related to a skarn- related porphyry system modelled on the property, with a seven hole 1,500 metre drill program covering the Boss mine, Boss extension, and Oro Amigo portions of the property.
Boxxer Gold Corp.
Elmer B. Stewart
President & Chief Executive Officer
Telephone:1-403-264-4811
e-mail: elmerbstewart@hotmail.com
Boxxer Gold Corp.
Colin Christensen
Vice-President
Tel: 1-403-264-4811
Fax: 1-403-237-6292
e-mail: colin@boxxergold.com
CHF Investor Relations
Alison Tullis
Senior Account Manager
Tel: 1-416-868-1079 ext. 233
Fax: 1-416-868-6198
e-mail: alison@chfir.com
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. |
