RSS SubscribeVancouver B.C., August 19, 2024 – MAX RESOURCE CORP. (“Max” or the “Company”) (TSX.V: MAX; OTC: MXROF; Frankfurt: M1D2) is pleased to announce that, further to its news releases of May 16, June 17 and August 6, 2024, it has entered into a definitive mineral right purchase agreement (the “APA”) with its wholly-owned Brazilian subsidiary, Max Resource Brazil Ltda. (“Max Brazil” and, together with the Company, the “Max Entities”), Jaguar Mining Inc. (“Jaguar”) and Jaguar’s wholly-owned Brazilian subsidiary, Mineração Serras Do Oeste Limitada (together with Jaguar, the “Jaguar Entities”), to acquire a 100% interest in Mineral Right n° 832.022/2018, which represents the Florália DSO Iron Ore Project (the “Florália DSO Project”) located 120-km east of the city Belo Horizonte, State of Minas Gerais, Brazil (the “Transaction”).
Pursuant to the APA, Max will make the following remaining cash payments in consideration for the acquisition of the Florália DSO Project:
- US$200,000 within five business days following the effective date of the APA;
- US$300,000 within five business days following the date on which the Brazilian National Mining Agency approves the transfer of the Florália Project to Max Brazil;
- US$200,000 within five business following the date six months after the effective date of the APA;
- US$200,000 within five business following the date 12 months after the effective date of the APA; and
- Max has already paid a US$100,000 non-refundable deposit.