RSS SubscribeVancouver B.C., January 20, 2025, – MAX RESOURCE CORP. (“Max” or the “Company”) (TSX.V: MAX; OTC: MXROF; Frankfurt: M1D2) is pleased to announce that, further to its news releases on December 12, 2024, January 2, 2025, and January 7, 2025, Max Iron Brazil Ltd. (“Max Brazil”), formerly a wholly-owned subsidiary of the Company, has closed the second tranche of its non-brokered private placement for a new aggregate amount of 25,000,000 ordinary shares in the capital of Max Brazil (the “Ordinary Shares”) at a price of AUD $0.10 per Ordinary Share for aggregate gross proceeds AUD $2,500,000. Following the completion of the second tranche Offering, the Company owns approximately 78% of the issued and outstanding Ordinary Shares.
The net proceeds of the Offering will be used for the advancement of the Florália DSO Hematite Iron Ore Project (“Florália DSO Project”) located 67-km east of Belo Horizonte, Minas Gerais, Brazil, and for general working capital purposes and expenses. There were no finder’s fees paid in connection with the completion of the Offering.