RSS SubscribeVancouver, B.C., January 9, 2025 – MAX RESOURCE CORP. (“Max” or the “Company”) (TSX.V: MAX; OTC: MXROF; Frankfurt: M1D2) is pleased to announce that Max Iron Brazil Ltd. (“Max Brazil”), a majority owned subsidiary of Max, intends to complete an initial public offering of a minimum of 30,000,000 Ordinary Shares in the capital of Max Brazil (the “Ordinary Shares”) at a price of AUD$0.20 per Ordinary Share for minimum aggregate gross proceeds of AUD$6,000,000 up to a maximum of 50,000,000 Ordinary Shares for maximum aggregate proceeds of AUD$10,000,000 (the “Offering”). Following the completion of the Offering Max will continue to be a controlling shareholder in Max Brazil holding 88,000,000 ordinary shares and 12,000,000 performance shares.
Max Brazil is to reimburse costs of Max to date under conditions of a loan agreement and the remaining payments to Jaguar Mining Inc. (TSX: JAG) of USD $700,000.
In connection with the Offering, Max Brazil intends to list the Ordinary Shares on the ASX Limited (the “Exchange”). Max Brazil has applied to ASX for in-principle advice in relation to its suitability for admission to the official list of the ASX. Max Brazil has yet to receive in-principle confirmation from the ASX, however, will keep the market updated in accordance with Company’s continuous disclosure obligations. Investors are cautioned that there is no guarantee that the ASX will approve Max Brazil’s proposed ASX listing.