The Prospector News

Max Resource Closes First Tranche of Financing for $1,200,000

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

 

 

 

 

 

MAX RESOURCE CORP. (TSX-V: MXR) (OTC Pink: MXROF) (FSE: M1D1) is pleased to announce that it has closed the first tranche of a non-brokered private placement offering, as previously announced on June 17, 2019 for total gross proceeds of $1,200,000.

 

The Company has allotted and issued 12,000,000 units at a price of $0.10 per unit. Each unit is comprised of one common share and one-half of one transferable share purchase warrant, with each whole warrant entitling the holder to purchase one additional common share of the Company for a period of up to 24 months at a price of $0.15.

 

In connection with the Placement, the Company paid total finder’s fees of $80,080 and issued an aggregate 800,800 non-transferable broker warrants. Each broker warrant entitles the holder to acquire one common share of the Company at an exercise price of $0.15 for a period of 24 months from closing.

 

The Company intends to use the proceeds from the Placement towards advancing the Company’s North Choco Gold-Copper and Choco Gold-Platinum Projects and for general working capital purposes. The securities issued under the Placement will be subject to a four-month and one-day hold period expiring on November 10, 2019. The Placement remains subject to the final approval of the TSX Venture Exchange.

 

About Max Resource Corp.

 

Max is a mineral exploration company focused on the development and expanding its landholdings in the rich Choco mineral belt of Colombia. The Company has established significant exploration infrastructure and local community support for the Choco Gold-Platinum project, located 100 km SW of Medellin, which covers, or is adjacent to, historic production of 1.5 million ounces of gold and 1.0 million ounces of platinum. The North Choco Gold-Copper project lies adjacent to the Choco Gold-Platinum project. The Gachala copper project is located 60 km east of Bogota. The Company is led by a seasoned management team with a record of significant discovery and exploration success.

 

Posted July 9, 2019

Share this news article

MORE or "UNCATEGORIZED"


Cameco reports first quarter results, Cigar Lake restart and the continued execution of strategy to support global clean-air transition

Cameco (TSX: CCO) (NYSE: CCJ) reported its consolidated financial... READ MORE

May 7, 2021

ValOre Provides Update on Rhodium Assay Program at Pedra Branca PGE Project: All targets and deposits return rhodium mineralization, highlights of 1.44 and 1.37 g/t Rh from Esbarro deposit, 1.27 g/t Rh from Cedro deposit

ValOre Metals Corp. (TSX‐V: VO) (OTC: KVLQF) (Frankfurt: KEQ0) ... READ MORE

May 7, 2021

Golden Tag Intersects 286.02 g/t Ag.Eq Over 18.43 m and Identifies Mineralized Skarn Shoots 265 m above Fernandez Zone

Golden Tag Resources Ltd. (TSX-V: GOG) (OTCQB: GTAGF) has success... READ MORE

May 6, 2021

Atico Continues to Expand VMS Footprint with High Grade Copper-Gold Intercepts Reporting 3.70% Cu, 2.80 g/t Au, 40.63 g/t Ag and 4.53% Zn over 3.94 meters and Reinitiates Regional Exploration at La Plata Project in Ecuador

Atico Mining Corporation (TSX-V: ATY) (OTC: ATCMF) is pleased to ... READ MORE

May 6, 2021

Falco Closes the Sale of a Portfolio of Net Smelter Return Royalties

Falco Resources Ltd. (TSX-V:FPC) is pleased to announce that it h... READ MORE

May 6, 2021

Copyright 2021 The Prospector News