Maxtech Announces Flow-Through Unit Placement
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Maxtech Announces Flow-through Unit Placement and
Common Share Unit Placement Closings
Vancouver, Canada – June 4, 2021– Maxtech Ventures Inc. (“Maxtech” or the “Company“) (CSE: MVT)
(Frankfurt: M1N) (OTC: MTEHF) is pleased to announce that it has closed non-brokered private placements totaling
$945,250.
The Company raised $548,999.94 by the issuance of 9,149,999 units at $0.06 per unit. Each unit consists of one
common share and one warrant exercisable for 3 years at $0.10. These units were issued on a flow-through basis
entitling the subscriber to CEE deductions for the 2021 tax year.
In addition the Company raised $396,250.03 by the issuance of 7,204,546 units at $0.055 per unit. Each unit consists
of one common share and one warrant exercisable for 3 years at $0.10.
Qualified finders were paid finders’ fees of $26,302.50 and issued 455,742 finders’ warrants entitling the holder to
subscribe for a common share for $0.10 for 3 years from closing. An additional qualified finder was paid the equivalent
of $36,015 in $0.055 Units, for a total of 654,818 Units.
Securities issued on this closing will be subject to a statutory hold period until October 5, 2021. Proceeds will be used
to continue work on the Company’s St. Anthony gold project.
About The St. Anthony Gold Project:
The St. Anthony Gold Mine is located in the Kenora-Patricia Mining District of Ontario and encompasses four historical
mining operations including the largest past-producing mine in the area, the St. Anthony. The mine produced 63,310
ounces of gold from 332,720 tons for an average grade of 5.95 grams per tonne (or 0.191 ounces per ton) up until
World War II when gold production was halted. (source: Technical Report on the St. Anthony and Best/King Bay
Properties, prepared by Graeme Evans BSc, PGeo, June 16, 2015). The property consists of 233 contiguous claims
totaling 4,224 hectares (42.24 sq. km). In addition to the historical underground workings over 20 gold (-silver)
occurrences have been documented, some hosting visible gold, many of which have seen little if any exploration work
for several decades. Previous workers in the area include Aubet, Can Con and Falconbridge, companies that carried
out work focused on the bulk tonnage potential of a mineralized area hosted within a quartz-feldspar porphyry intrusive
located within the property. The St. Anthony Gold Project is located 85 km east of the town of Sioux Lookout, or 13
km south of the smaller town of Savant Lake.
Andrew Tims obtained his B.Sc. in Geology from Carleton University in Ottawa, Ontario, and is a Registered
Professional Geologist in Ontario and Manitoba and a Qualified Person under NI 43-101. He has reviewed and
approved the technical contents of this news release.
About Maxtech Ventures Inc.
Maxtech Ventures Inc., a Canadian-based diversified industries corporation, is focused on identifying and advancing
high-value mineral properties.
For additional information see the Company’s web site at
http://www.maxtechventures.com
Email to [email protected]
Contact: Peter Wilson CEO - 604-484-0355
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.
Further information about the Company is available on www.SEDAR.com under the Company’s profile.
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
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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.