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

 

 

 

 

 

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"


Benchmark Drills 11.7 g/t Gold and 476 g/t Silver over 4.4 Metres in the First Completed Drill Hole of 2019

Benchmark Metals Inc. (TSX-V: BNCH) (OTCQB: CYRTF) (WKN: A2JM2X) ... READ MORE

August 16, 2019

Integra Resources Announces Closing of $12.5 Million Non-Brokered Offering

Integra Resources Corp. (TSX-V:ITR) (OTCQX:IRRZF) is pleased to a... READ MORE

August 16, 2019

Hudson Closes Third Tranche of Additional Debt Financing for Gross Proceeds of US$3 Million

HUDSON RESOURCES INC. (TSX-V:HUD) (OTC:HUDRF) is pleased to repor... READ MORE

August 16, 2019

Antler Gold announces closing of the purchase of mineral assets from Sona Nanotech

Antler Gold Inc. (TSX-V: ANTL) and Sona Nanotech Inc. (CSE: SONA)... READ MORE

August 16, 2019

KORE Announces $3 Million Strategic Investment by Eric Sprott

KORE Mining Ltd. (TSX-V:KORE) is pleased to announce a non-broker... READ MORE

August 16, 2019

Copyright 2019 The Prospector News - Site design by Spyderbaby Productions