MAX closes Private Placement for $316,000
MAX Resource Corp.
(TSX.V: MXR; OTCBB: MXROF; Frankfurt: M1D) has closed its previously announced non-brokered private placement, which has been increased to 6,320,000 units at a price of $0.05 per unit for gross proceeds of $316,000. Each unit will be comprised of one common share and one warrant, with each warrant entitling the holder to purchase an additional common share at an exercise price of $0.12 per share until March 26, 2016. If at any time prior to the expiry date of the warrants, the closing price of the common shares of MAX on the TSX Venture Exchange is equal to or greater than $0.25 for 30 consecutive days, then MAX may elect to provide notice to the warrant holders that the warrants will expire at 4:00 p.m. (PST) on the date that is 30 days from the date of the notice, following which all unexercised warrants will be null and void. The shares and any shares acquired on the exercise of warrants will be subject to a hold period expiring on July 27, 2014.
Finder's fees of $7,035 were paid with respect to a portion of this placement along with the issuance of 140,700 finders warrants exercisable at $0.12 until March 26, 2016.
The net proceeds from this private placement will be used to fund drilling planned for this spring at the Company's Majuba Hill (copper/silver/gold) and East Manhattan Wash (gold) projects in Nevada.
About MAX Resource Corp.MAX Resource Corp. is a Canadian exploration company focused on gold, silver and copper exploration in Nevada. For more information, please visit our web site at
www.maxresource.com.
On behalf of the Board of Directors of
MAX Resource Corp. "STUART ROGERS"
Stuart Rogers
President
Contacts: Leonard MacMillan, Corporate Communication
info@maxresource.com
Phone: 604-637-2140 Toll Free: 1-866-331-5088
or
Paradox Public Relations
info@paradox-pr.ca
Phone: 514-341-0408 Toll Free: 1-866-460-0408
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. This News Release includes certain "forward looking statements". Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause MAX's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital.
Back to Past News