ExGen Resources Inc. to Issue 16,600,000 Bonus Shares
14.09.2017 | GlobeNewswire
VANCOUVER, Sept. 14, 2017 - ExGen Resources Inc. (TSX.V:EXG) (OTC:BXXRF) (“ExGen”) announces that the Board of Directors of ExGen, upon the recommendation of the Corporate Governance and Compensation Committee of ExGen, have approved the issuance of 16,600,000 common shares of ExGen (the “Bonus Shares”) to directors, officers, a former director and a consultant of ExGen (the “Recipients”) for past services provided by the Recipients to ExGen.The issuance of the Bonus Shares is subject to TSX Venture Exchange (“TSXV”) acceptance and the Bonus Shares are expected to be issued on or around September 15, 2017. The Bonus Shares will be issued at a deemed price of $0.05 pursuant to TSXV policies. No new insiders will be created, nor will any change of control occur, as a result of the issuance of the Bonus Shares. The Bonus Shares are subject to securities laws resale restrictions until on or around January 16, 2018. In addition, the Recipients of the Bonus Shares have agreed to enter into voluntary escrow agreements which will restrict the trading of the Bonus Shares for one year from the date of issuance (which restrictions will expire on or around September 15, 2018). ExGen has determined that there are exemptions available from the various requirements of TSX Venture Policy 5.9 and Multilateral Instrument 61-101 for the issuance of the Bonus Shares (Formal Valuation - Issuer Not Listed on Specified Markets; Minority Approval - Fair Market Value Not More Than 25% of Market Capitalization).
About ExGen Resources Inc.
ExGen, formerly Boxxer Gold Corp, is a project accelerator that seeks to fund exploration and development of our projects 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 contact ExGen Resources Inc.
Jason Tong, Chief Financial Officer
Email: jason@catapultgroup.ca
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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