An anonymous director reports
MAX RESOURCE CLOSES $7.7 MILLION FINANCING
Max Resource Corp. has closed a private placement of 29.65 million units at a price of 26 cents per unit for aggregate gross proceeds of $7,709,000. Each unit comprises one common share and one-half transferable common share purchase warrant, with each whole warrant exercisable for two years at a price of 36 cents.
In addition, the company has paid finders' fees, totalling $176,463, and issued an aggregate 678,704 finders' 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 36 cents.
The proceeds from the offering will be used for 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 four months and one day from closing.
About Max Resource Corp.
Max Resource 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 (the Andean belt), with world-class infrastructure and the presence of global majors (Glencore and Chevron).
In addition, Max controls the RT gold project (100-per-cent earn-in) in Peru, encompassing a bulk-tonnage primary gold porphyry zone and, three kilometres to the northwest, a gold-bearing massive sulphide zone. Historical drilling in 2001 returned values ranging from 3.1 grams per tonne to 118.1 g/t gold over core lengths ranging from 2.2 metres to 36 metres.
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