Max Resource Closes $7.7 Million Financing
Max Resource Closes $7.7 Million Financing
Vancouver, British Columbia--(Newsfile Corp. - March 28, 2022) -
MAX RESOURCE CORP. (TSXV:
MAX) (OTC Pink: MXROF) (FSE: M1D2) ("Max")
is pleased to announce the closing of a private
placement of 29,650,000 units at a price of $0.26 per unit for aggregate gross proceeds of
$7,709,000
(the "Offering"). Each unit is comprised of one common share and one-half of one transferable common
share purchase warrant, each whole warrant exercisable for two years at a price of $0.36.
In addition, the Company has paid finder's fees totaling $176,463 and issued an aggregate 678,704
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 two years at a price of $0.36.
The proceeds from the Offering will be used towards exploration on the Company's mineral properties
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.
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 wholly-owned Cesar project sits along the Colombian
portion of the world's 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 project (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
E.
T. (+1) 416 414 9954
Tim McNulty
E:
T: (+1) 604 290-8100
Neither 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
Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities
law.
Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate",
"estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur.
Forward-looking statements are based on
the opinions and estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could
cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or
uncertainties with regulatory approvals, including that of the TSXV.
There are uncertainties inherent in forward-looking information, including
factors beyond the Company's control.
There are no assurances that the commercialization plans for Max Resources Corp. described in this
news release will come into effect on the terms or time frame described herein.
The Company undertakes no obligation to update forward-looking
information if circumstances or management's estimates or opinions should change except as required by law.
The reader is cautioned not to
place undue reliance on forward-looking statements.
Additional information identifying risks and uncertainties that could affect financial results is
contained in the Company's filings with Canadian securities regulators, which filings are available at
www.sedar.com
.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/118305