MAX Resource Announces Closing of the Final $2.4 Million of Its $17.7 Million Private Placement Including C$1.5 Million ON a Brokered Best Efforts Basis (IN Canadian Dollars
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THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
MAX RESOURCE ANNOUNCES CLOSING OF THE FINAL $2.4 MILLION OF ITS $17.7
MILLION PRIVATE PLACEMENT INCLUDING C$1.5 MILLION ON A BROKERED
BEST EFFORTS BASIS
(IN CANADIAN DOLLARS UNLESS OTHERWISE STATED )
For Immediate Release
VANCOUVER, June 7, 2022 — Max Resource Corp. (TSX-V: MAX) (“Max” or the “Company”) is
pleased to announce that it has closed its previously announced brokered private placement, led by Cormark
Securities Inc. (“Cormark”), acting as lead agent, of 2,500,000 units of the Company (the “ Units”) at a
price of $0 .60 per Unit for aggregate gross proceeds to the Company of $1,500,000 (the “ Brokered
Offering”). In addition, the Company closed a concurrent non-brokered private placement offering for
1,500,000 Units for aggregate gross proceeds of $900,000 (the “Non-Brokered Offering”, together with
the Brokered Offering, the “Offering”), bringing the total aggregate gross proceeds to the Company to an
aggregate of $17,700,000, pursuant the Company’s non-brokered private placement which closed on May
19, 2022, the Brokered Offering and Non-Brokered Offering.
Each Unit consists of one common share of the Company (a “ Common Share”) and one Common Share
purchase warrant (a “Warrant”). Each Warrant entitle s the holder to acquire one Common Share of the
Company at an exercise price of $0.85 for a period of 12 months following the date of issuance.
As consideration for the services rendered in connection with the Brokered Offering, the Company paid to
Cormark a cash commission in the amount equal to 6% of the gross proceeds of the Brokered Offering and
issued 150,000 broker warrants to Cormark (each, a “ Broker Warrant ”), with each Broker Warrant
entitling the holder to acquire one Common Shares at an exercise price of $0.85 for a period of 12 months
following the date of issuance. In addition, in connection with the Non -Brokered Offering , Cormark
received from the Company a cash finder’s fees totaling $54,000 and an aggregate of 90,000 finder’s
warrants (each, a “Finder’s Warrant”), with each each Finder’s Warrant entitling the holder to acquire
one Common Share at an exercise price of $0.85 for a period of 12 months following the date of issuance.
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.
In accordance with applicable Canadian securities laws, all securities issued pursuant to the Offering will
be subject to a statutory hold period of four (4) months and 1 day from the date of closing. The Offering
remains subject to final approval from the TSX Venture Exchange.
This new release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities
in the United States. The securities have not been and will not be registered under the United States
Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be
offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in
Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable
state securities laws or an exemption from such registration is available.
About Max Resource Corp.
Max Resource Corp. (TSXV: MAX) is a mineral exploration company advancing the newly discovered
district-scale Cesar copper-silver project. The Cesar project sits along the Colombian portion of the world’s
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largest producing copper belt (Andean belt), with world class infrastructure and the presence of global
majors (Glencore and Chevron).
In addition, Max controls the RT Gold pro ject (100% earn -in) in Peru, encompassing a bulk tonnage
primary gold porphyry zone, and 3-km to the NW, a gold bearing massive sulphide zone. Historic drilling
in 2001, returned values ranging 3.1 to 118.1 g/t gold over core lengths ranging from 2.2 to 36.0-metres.
Source: NI 43:101 Geological Report Rio Tabaconas Gold Project for Golden Alliance Resources Corp.
by George Sivertz, Oct.3, 2011
For more information visit: https://www.maxresource.com/
For additional information contact:
Max Resource Corp.
Rahim Lakha
T. (+1) 416 414 9954
Tim McNulty
T: (+1) 604 290-8100
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Cautionary Statement on Forward-Looking Information
Except for the statements of historical fact, this news release contains "forward -looking information" within the
meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as
at the date of this news release. "Forward-looking information" in this news release includes information about the
Company’s use of proceeds of the Offering including the Company’s intention to complete drilling and exploration
work on the Company’s CESAR Project, and expectatio ns regarding future operations and other forward -looking
information. Factors that could cause actual results to differ materially from those described in such forward-looking
information include, but are not limited to, the inability to complete the Offering or apply the proceeds of the Offering
as anticipated by management.
The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of
the Company based on information currently available to the Compa ny. In connection with the forward -looking
information contained in this news release, the Company has made assumptions about the Company’s ability to close
the Offering, that the Company's financial condition and development plans do not change as a resul t of unforeseen
events, and that the Company will receive all required regulatory approvals, including TSX Venture Exchange
approval, for the Offering.
Although the Company believes that the assumptions inherent in the forward -looking information are rea sonable,
forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be
put on such information due to the inherent uncertainty therein.
The Company does not assume any obligation to update the forward-looking statements, or to update the reasons why
actual results could differ from those reflected in the forward -looking statements, unless and until required by
applicable securities laws. Additional information identifying risks and uncertainties is contai ned in the Company's
filings with the Canadian securities regulators, which filings are available at www.sedar.com.