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CALGARY, April 14, 2014 /CNW/ - Boxxer Gold Corp.
(BXX-TSXV) (OTC-BXXRF) ("Boxxer"): Further to news releases
issued on January 30, 2014 and
March 17, 2014, Boxxer is pleased to
announce that it has completed the previously announced financing
with Key Venture Capital Inc. ("Key") for total gross
proceeds of $123,000 (the "Private
Placement"). Pursuant to the Private Placement, Key was
issued 2,460,000 units of Boxxer (the "Boxxer Units") at a
price of $0.05 per Boxxer Unit.
Key intends that the Private Placement and subsequent Distribution
and Dissolution (as described in the January
30, 2014 news release) will constitute Key's "Qualifying
Transaction" pursuant to Policy 2.4 of the TSX Venture Exchange
(the "TSXV"). Each Boxxer Unit consists of one common
share of Boxxer and one transferable share purchase warrant of
Boxxer (a "Warrant"). Each Warrant shall be
exercisable for five years at $0.05
per share and is subject to accelerated expiry provisions such that
if at any time after the completion of the Private Placement the
closing price of the common shares of Boxxer on the TSXV is at
least $0.10 per share for 15
consecutive days, Boxxer may give notice that each Warrant will
expire 15 business days from the date of providing such
notice. The proceeds of the Private Placement will be used
for general working capital.
Boxxer expects that the Distribution of the Boxxer Units to the
shareholders of Key, and the Dissolution of Key will occur within
the next two weeks. As previously announced on March 17, 2014, it is anticipated that upon the
completion of the Distribution of the Boxxer Units and the
Dissolution of Key, Sophia Leung,
the Chief Executive Officer and a director of Key, will be
appointed to the Board of Directors of Boxxer.
The completion of the Distribution and Dissolution, and the
appointment of Ms. Leung to the Board of Directors of Boxxer, are
subject to conditions, including but not limited to, the receipt of
all requisite regulatory approvals, including final TSXV acceptance
of the Key Qualifying Transaction.
About Boxxer Gold Corp.
Boxxer is a Canadian junior resource company involved in the
exploration for large polymetallic copper deposits in North
America. Boxxer's active projects include the Boss and Buena
Vista copper projects in the state of Nevada, the Empire copper-gold-silver property
in Idaho, the DOK copper-gold
porphyry property in Northwest B.C., and the East Breccia
copper-silver-molybdenum property in Ontario. Boxxer also has
the Gordon Lake gold project located 110 kilometres north of
Yellowknife NWT, Canada.
For more information on Boxxer please visit our website at
www.boxxergold.com or contact Boxxer Gold Corp.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Forward-Looking Information: This news release may
contain certain forward-looking information. All statements
included herein, other than statements of historical fact, are
forward-looking information and such information involves various
risks and uncertainties. In particular, this news release
contains forward-looking information regarding: the Qualifying
Transaction, the Distribution , the Dissolution and the appointment
of Sophia Leung to the Board of
Directors of Boxxer. There can be no assurance that such
forward-looking information will prove to be accurate, and actual
results and future events could differ materially from those
anticipated in such forward-looking information. This
forward-looking information reflects Boxxer's current beliefs and
is based on information currently available to Boxxer and on
assumptions Boxxer believes are reasonable. These assumptions
include, but are not limited to: the final acceptance of the
Qualifying Transaction by the TSXV; and the acceptance by the TSXV
of Ms. Leung as a director of Boxxer. Forward-looking
information is subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, levels of
activity, performance or achievements of Boxxer to be materially
different from those expressed or implied by such forward-looking
information. Such risks and other factors may include, but
are not limited to: general business, economic, competitive,
political and social uncertainties; capital market conditions and
market prices for securities and junior market securities; the
actual results of Boxxer's business operations including its
exploration operations; natural resource company market conditions
and the market conditions of the natural resource industry in
general; competition; changes in legislation, including
environmental legislation, affecting the Boxxer; timing and
availability of external financing on acceptable terms; and lack of
qualified, skilled labour or loss of key individuals. A
description of additional assumptions used to develop such
forward-looking information and a description of additional risk
factors that may cause actual results to differ materially from
forward-looking information can be found in Boxxer's disclosure
documents on the SEDAR website at www.sedar.com. Although
Boxxer has attempted to identify important factors that could cause
actual results to differ materially from those contained in
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended.
Accordingly, readers should not place undue reliance on
forward-looking information. Boxxer does not undertake to
update any forward-looking information except in accordance with
applicable securities laws.
SOURCE Boxxer Gold Corp.