RSS SubscribeMay 19, 2022
Vancouver B.C., May 19, 2022 – MAX RESOURCE CORP. (“Max”) (TSX.V: MAX; OTC: MXROF; Frankfurt: M1D2) is pleased to announce the closing of a private placement of 25,500,000 units at a price of $0.60 per unit for aggregate gross proceeds of $15,300,000 (the “Offering”). Each unit is comprised of one common share and one transferable common share purchase warrant, each warrant exercisable for one year at a price of $0.85.
In addition, the Company has paid finder’s fees totaling $115,380 and issued an aggregate 192,300 finder’s warrants to arm’s-length parties, with each finder’s warrant entitling the holder to purchase one common share for a period of one year at a price of $0.85.
The net proceeds of the Offering will be used for drilling and exploration of the Company’s Cesar Project in Colombia and general working capital. All securities issued under the Offering are subject to a statutory hold period of 4 months and 1 day from closing.