German Version Unavailable
MAX arranges $300,000 private placement
MAX Resource Corp. (TSX.V: MXR; OTCBB: MXROF; Frankfurt: M1D)
has agreed to a non-brokered private placement of up to 6,000,000 units at a price of $0.05 per unit for gross proceeds of $300,000. Each unit will be comprised of one common share and one half of one warrant, with each full warrant entitling the holder to purchase an additional common share at an exercise price of $0.12 per share for a period of two years from the closing date of the private placement. 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.
Finders fees may be payable on a portion of this placement, which is subject to acceptance for filing by the TSX Venture Exchange.
The net proceeds from this private placement will be used to fund drilling planned for this spring at the Company's Majuba Hill (silver/copper/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 ofMAX Resource Corp.
Contacts: Leonard MacMillan, Corporate Communicationinfo@maxresource.com
Phone: 604-637-2140 Toll Free: 1-866-331-5088
Paradox Public Relationsinfo@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