MAX Closes Private Placement for $316,000
March 28 2014 - 10:52AM
Marketwired Canada
MAX Resource Corp. (TSX VENTURE:MXR)(OTCBB:MXROF)(FRANKFURT:M1D) has closed its
previously announced non-brokered private placement, which has been increased to
6,320,000 units at a price of $0.05 per unit for gross proceeds of $316,000.
Each unit will be comprised of one common share and one warrant, with each
warrant entitling the holder to purchase an additional common share at an
exercise price of $0.12 per share until March 26, 2016. If at any time prior to
the expiry date of the warrants, the closing price of the common shares of MAX
on the TSX Venture Exchange is equal to or greater than $0.25 for 30 consecutive
days, then MAX may elect to provide notice to the warrant holders that the
warrants will expire at 4:00 p.m. (PST) on the date that is 30 days from the
date of the notice, following which all unexercised warrants will be null and
void. The shares and any shares acquired on the exercise of warrants will be
subject to a hold period expiring on July 27, 2014.
Finder's fees of $7,035 were paid with respect to a portion of this placement
along with the issuance of 140,700 finders warrants exercisable at $0.12 until
March 26, 2016.
The net proceeds from this private placement will be used to fund drilling
planned for this spring at the Company's Majuba Hill (copper/silver/gold) and
East Manhattan Wash (gold) projects in Nevada.
About MAX Resource Corp.
MAX Resource Corp. is a Canadian exploration company focused on gold, silver and
copper exploration in Nevada. For more information, please visit our web site at
www.maxresource.com.
On behalf of the Board of Directors of MAX Resource Corp.
Stuart Rogers, President
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.
This News Release includes certain "forward looking statements". Without
limitation, statements regarding potential mineralization and resources,
exploration results, and future plans and objectives of the Company are forward
looking statements that involve various degrees of risk. The following are
important factors that could cause MAX's actual results to differ materially
from those expressed or implied by such forward looking statements: changes in
the world wide price of mineral commodities, general market conditions, risks
inherent in mineral exploration, risks associated with development, construction
and mining operations, the uncertainty of future profitability and the
uncertainty of access to additional capital.
FOR FURTHER INFORMATION PLEASE CONTACT:
MAX Resource Corp.
Leonard MacMillan
Corporate Communication
604-637-2140 Toll Free: 1-866-331-5088
info@maxresource.com
www.maxresource.com
Paradox Public Relations
514-341-0408 or Toll Free: 1-866-460-0408
info@paradox-pr.ca
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