Max Resource Closes Debt Transaction
Max Resource Closes Debt Transaction
Vancouver B.C., November 20, 2019 – MAX RESOURCE CORP. (“Max” or the
“Company”) (TSX.V: MXR; OTC: MXROF; Frankfurt: M1D1) is pleased to announce that,
pursuant to its news release issued November 18, 2019, the Company has received TSX
Venture Exchange approval on its debt settlement transaction.
The Company has allotted and issued an aggregate of 2,925,000 common shares (each, a
“Share”) at a deemed price of $0.10 per Share, to settle a total indebtedness of $292,500.
The Company determined to satisfy this outstanding indebtedness with Shares to preserve
its cash for operations.
A portion of the transaction constitutes a “related party transaction” within the meaning of
TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 -Protection of
Minority Security Holders in Special Transactions (“MI 61-101”) adopted in the Policy. The
Company has relied on exemptions from the formal valuation and minority shareholder
approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of
MI 61-101 in respect to the related party participation.
About Max Resource Corp.
Max is a mineral exploration company with an experienced and successful management
team focused on advancing the development of its landholdings in the rich mineral belts of
Colombia, with significant potential for the discovery of important-scale mineral deposits
that can attract major partners.
For more information visit: https://www.maxresource.com/
For additional information contact:
Max Resource Corp.
Tim McNulty
T: (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 a re 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