Precious Metals M&A » By The Online Investor Staff, updated Thu., Apr. 18, 9:45 AM
Recent mergers and acquisitions in the Precious Metals M&A category.
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Slide #59. Boxxer Gold Corp. — Konnex Resources
Acquirer:
Boxxer Gold Corp. (BXX.CA)
Acquiree:
Konnex Resources
Details:
Boxxer Gold Corp. (TSX Venture: BXX/OTC: BXXRF) ("Boxxer" or the "Corporation") announced today that, further to the press releases dated July 4, 2013, July 23, 2013 and August 26, 2013, it has acquired all of the issued and outstanding shares (the "Acquisition") of Konnex Resources Inc. ("Konnex"). The Acquisition closed in escrow on August 30, 2013, pending certain closing deliverables, and is subject to TSX Venture Exchange final approval. Pursuant to the Acquisition, Boxxer issued an aggregate of 51,528,750 common shares of Boxxer ("Boxxer Shares") to the former holders of common shares of Konnex ("Konnex Shares"), on the basis of five (5) Boxxer Shares for every one (1) Konnex Share. 24,360,000 of these Boxxer Shares, held by the former principals of Konnex, are held in escrow pursuant to the terms of an escrow agreement, which provides for the release of those Boxxer Shares, as to 25% on each of the 6, 12, 18 and 24 month anniversary of the closing date of the Acquisition.
Boxxer Gold is engaged in the exploration and development of copper-gold mineral properties in Canada and the United States. Co.'s properties are in the exploration stage.
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