SOURCE: ExGen Resources Inc.

ExGen Resources Inc.

May 13, 2016 17:51 ET

ExGen Resources Inc. Announces Shares for Debt Transaction

CALGARY, AB--(Marketwired - May 13, 2016) -

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ExGen Resources Inc. (TSX VENTURE: EXG) (OTC PINK: BXXRF) (the "Company", or "ExGen") is pleased to announce that it has settled outstanding indebtedness of $150,000 through the issuance of 3,000,000 common shares of the Corporation at a deemed price of $0.05 per common share (the "Debt Settlement"). The common shares issued in connection with the Debt Settlement are subject to a four month hold period that expires on September 13, 2016.

"We are pleased to have been able to complete this shares for debt transaction as it significantly improves our working capital position. We also want to thank our creditor for their strong show of support in accepting shares as settlement at a substantial premium to our current market price," said Jason Riley, President and CEO.

About ExGen Resources Inc.
ExGen, formerly Boxxer Gold Corp, is a project incubator with a strategy to aggregate projects during the current market downturn and then fund exploration through joint ventures and partnership agreements. This approach significantly reduces the technical and financial risks for ExGen, while maintaining the upside exposure to new discoveries and potential cash flow. ExGen intends to build a diverse portfolio of projects across exploration stages and various commodity groups. ExGen currently has 6 projects in Canada and the US.

For more information on ExGen please visit our website at http://exgresources.com or contact ExGen Resources Inc.

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.

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