Mon Mar 7, 2011 MAX agrees to Private Placement for $560,000
MAX Resource Corp. (TSX.V: MXR; OTCBB: MXROF; Frankfurt: M1D)
has agreed to a non-brokered private placement of two million units at a price of 28 cents per unit for gross proceeds of $560,000. Each unit will be comprised of one common share and one warrant, with each warrant entitling the holder to purchase an additional share at an exercise price of 38 cents per share for a period of two years from the date of issue.
If the closing price of MAX's shares on the TSX Venture Exchange is at least $0.60 for 20 consecutive trading days at any time following four months and a day from the date of closing, the Company may reduce the remaining exercise period of the warrants to not less than 30 days from the date of providing notice of such reduced exercise period (the "Acceleration"). A finder's fee may be payable on a portion of this placement, which is subject to acceptance for filing by the TSX Venture Exchange.
About MAX Resource Corp.
MAX Resource Corp. is a Canadian exploration company with a diversified portfolio of mineral exploration projects in the Western United States. We are currently focused on precious metals, with three gold properties in Nevada being actively explored in 2011. For more information, please visit our web site at www.maxresource.com.
On behalf of the Board of Directors of MAX Resource Corp.
Contact: Leonard MacMillan, Corporate Communication
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.
You can view the Next News Releases item: Thu Mar 17, 2011, MAX resumes drilling at Table Top gold project in Nevada, immediately south of the Newmont/Fronteer Sandman gold project
You can view the Previous News Releases item: Fri Mar 4, 2011, MAX acquires interest in Majuba Hill Copper/Gold/Silver Property in Nevada; exploration to focus on high-grade silver and copper potential
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