MAX Completes Private Placement for $564,691
MAX Resource Corp. (TSX.V: MXR; OTCBB: MXROF; Frankfurt: M1D) has completed the previously announced non-brokered private placement of 2,016,755 units at a price of $0.28 per unit for gross proceeds of $564,691.Each unit is comprised of one common share and one warrant, with each warrant entitling the holder to purchase an additional share at an exercise price of $0.38 per share until April 4, 2013. 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").
The shares and any shares acquired on the exercise of warrants will be subject to a hold period expiring on August 6, 2011. Cash finder's fees of $32,472 were paid with respect to a portion of this placement.
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 in Nevada, where four gold and silver properties are 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.
"STUART ROGERS"
Stuart Rogers
President
Telephone: (866) 331-5088 or (604) 637-2140
info@maxresource.com www.maxresource.com
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