February 5, 2009
Calgary, Alberta: Boxxer Gold Corp. (TSX-V:BXX) reported today that two directors of Boxxer have arranged the sale of 1,894,000 shares at a price of $0.035 per share through the facilities of the TSX Venture Exchange.
The net proceeds from this sale will be used to fund a private placement of up to 2,000,000 units of Boxxer at a price of $0.035 per unit, with each unit being comprised of one common share of Boxxer and one-half transferable common share purchase warrant. Each full warrant entitles the owner to acquire an additional common share of Boxxer for a period of eighteen (18) months at a price of $0.10 per common share. Proceeds from the private placement will be used for general working capital. As part of the consideration to facilitate this transaction, a 10% broker warrant amounting up to 189,400 warrants will be issued to certain members of the TSX Venture Exchange on the gross proceeds of the transaction. Each broker warrant is exerciseable into one common share at a price of $0.05 for the first twelve (12) months, and at $0.10 for the next six (6) months. The private placement is subject to regulatory approval.
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.
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.
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