December 03, 2007 16:24 ET

Boxxer Gold Closes Second Tranche of $2 Million Financing

CALGARY, ALBERTA--(Marketwire - Dec. 3, 2007) - Boxxer Gold Corp. (TSX VENTURE:BXX) ("Boxxer" or the "Corporation") today announced it has closed a second tranche of the non-brokered private placement announced on November 1st, 2007, and has thereby completed this financing. Boxxer Gold issued a total of 1,100,000 units ("Units") at a purchase price of $0.10 per Unit for gross proceeds of $110,000. Each Unit consists 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 at any time until 5:00 p.m. (Calgary time) on May 20, 2009 into one Common Share at a price of $0.20 per Common Share. The Common Shares and Warrants are subject to a resale restriction until March 31, 2008.

Boxxer has paid a finder's fee in connection with the second tranche of the private placement as follows: (i) Blackmont Capital Inc received $7,000 and 70,000 Broker's Warrants; and (ii) Pacific International Financial Corp. received $700 and 7,000 Broker's Warrants.

The cash commission is equal to 7% of the gross proceeds attributed to the named firm. The number of Broker Warrants issued is equal to 7% of the aggregate number of Units sold pursuant to the private placement attributed to the named firm. The Broker Warrants entitle the holder to purchase Units at a purchase price of $0.10 per Unit exercisable at any time until 5:00 p.m. (Calgary time) on May 20, 2009. The Broker Warrants and the underlying securities are also subject to a resale restriction until March 31, 2008.

Boxxer will use the proceeds of the private placement to fund completion of a Scoping Study and exploration on the Nalesbitan Hill gold deposit and several zones of gold mineralization surrounding the Corporation's Nalesbitan Hill gold project in the Philippines, its Nevada exploration projects including the Boss, Buena Vista, and Boyer Ranch projects and for general working capital purposes.

About Boxxer Gold Corp.

Boxxer is a Canadian junior resource company involved in the exploration of copper-gold porphyry and Iron-Oxide-Copper-Gold projects in the state of Nevada. Boxxer recently acquired a option to purchase 65% of the Nalesbitan Hill gold and porphyry copper project in the Philippines.

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Forward Looking Statements: Except for statements of historical fact, all statements in this news release - including, without limitation, statements regarding Boxxer's intended use of proceeds from the private placement - are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.

The TSX Venture Exchange Does Not Accept Responsibility for the Adequacy or Accuracy of This Release

Contact Information

  • Boxxer Gold Corp.
    Colin Christensen
    (403) 264-4811
    (403) 503-0822 (FAX)
    Phoenix Communications Group
    Jason Shepherd
    (250) 717-1910
    CHF Investor Relations
    Jeanny So
    Broker Relations Specialist
    (416) 868-1079