Universal Copper Executes Definitive Agreement to Acquire 100% of the Max Resource Corp. Gachala Copper Project North Block
Universal Copper Executes Definitive Agreement to Acquire 100% of the Max Resource Corp.
Gachala Copper Project North Block
Vancouver B.C., April 24, 2019 – MAX RESOURCE CORP. (MAX or the “Company”) (TSX.V: MXR; OTC: MXROF;
Frankfurt: M1D1), further to the press release of February 20, 2019, is pleased to report that it has entered into
an asset purchase agreement (the “Asset Purchase Agreement”) with Universal Copper Ltd. (TSX Venture: UNV)
(“UNV”) and Gachala Columbia Corp., a wholly owned subsidiary of MAX, pursuant to which the UNV will acquire
a 100% interest in the 7 mineral license applications comprising the North Block of MAX’s Gachala Copper
Project, 60 km east of Bogota, Colombia (the "Claims").
Under the terms of the Asset Purchase Agreement, MAX will receive 6,000,000 UNV common shares in exchange
for the Claims. The closing of the Asset Purchase Agreement is subject to customary closing conditions including
the receipt of third party and regulatory approval, the receipt of a satisfactory title opinion and the approval of
the TSX Venture Exchange. Once issued, the 6,000,000 common shares will be subject to a hold period of four
months and a day from the date of issuance.
On the closing of the A sset Purchase Agreement, UNV will have approximately 41,977,275 common shares
issued and outstanding. UNV anticipates that, as a result of the transaction, MAX will own 14.3% of the issued
shares and will become an insider of the Company.
About Max Resource Corp.
MAX is a mineral exploration company focused on the development and acquisition of prospective projects in
the rich mineral belts of Colombia. The Company has established significant exploration infrastructure and local
community support for the Choco Gold and Platinum Project, located 100 km south of Medellin, which covers
or is adjacent to historic production of 1.5Mozs gold and 1.0Mozs platinum . The Company’s Gachala Copper
Project, is located 60 km east of Bogota. The Company is led by a seaso ned management team with a track
record of significant discovery and exploration success.
Source: R.J. Fletcher and Associates (2011) Review of Gold and Platinum Exploration and Production in Choco Province Colombia Part 3. Private Report for Condoto
Platinum Ltd.)
MAX cautions investors it has yet to verify the historic information.
For more information visit: https://www.maxresource.com/
For additional information contact:
Max Resource Corp.
Tim McNulty
T: (604) 290-8100
For Max Resource’s French inquiries:
Remy Scalabrini, Maricom Inc.
T: (888) 585-MARI
Tim Henneberry, PGeo (British Columbia), a member of the Max Resource advisory board, is the qualified person who has reviewed and approved the technical content
of this news release on behalf of the company.
No stock exchange or securities regulatory authority has reviewed or accepted 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 antici pated in the forward- looking statements
including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information,
including factors beyond the Company’s control. There are no assurances that the commercialization plans for UXD 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 cautio ned 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