Maxtech Ventures Closes Financing
Vancouver, British Columbia – September 19, 2019 – Vancouver, British Columbia –– Maxtech Ventures Inc. (CSE: MVT) (Frankfurt: M1N) (OTC: MTEHF) (“Maxtech” or the “Company”) is pleased to announce that it has closed the first tranche of a non-brokered private placement with an offering comprised of 3,200,000 units of the corporation at a price of $0.05 per unit for aggregate gross proceeds of $160,000.
Each Unit in the raise was comprised of one common share of the company and one common share purchase warrant. Each warrant entitles the holder to acquire an additional common share at a price of $0.10 per share for a period of one year from the closing date and is subject to an acceleration clause that is triggered should the company’s shares trade on a recognized exchange at more than $0.20 for a 10 day period, which can include days where no Shares trade. All securities issued pursuant to the offering will be subject to a hold period expiring January 20, 2020. No finder’s fees were paid in connection with the offering.
The Company also wishes to announce that, pending CSE approval, it has extended the term on 600,000 outstanding warrants previously issued to two third-party investors exercisable at $0.30 from September 22, 2019 to September 22, 2020.
About Maxtech Ventures Inc.
Maxtech Ventures Inc. is a Canadian-based diversified industries corporation focused on mineral properties.
For additional information see the Company’s web site at http://www.maxtech-ventures.com Peter Wilson- CEO Email to [email protected] Phone: 604-484-8989
Further information about the Company is available on www.SEDAR.com under the Company’s profile.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements contained in this release may constitute “forward–looking statements” or “forward-looking information” (collectively “forward-looking information”) as those terms are used in the Private Securities Litigation Reform Act of 1995 and similar Canadian laws. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated”, “anticipates” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the business of the Company, the Property, financing and certain corporate changes. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.