Vancouver, British Columbia--(Newsfile Corp. - May 7, 2018) - MAX RESOURCE CORP. (TSXV: MXR) (OTC Pink: MXROF) (FSE: M1D) ("MXR" or the "Company") is pleased to announce that it has closed a non-brokered private placement financing (the "Private Placement") for total gross proceeds of $3,246,999.90
The Company has allotted and issued 21,646,666 units (the "Units") at a price of $0.15 per Unit. Each Unit is comprised of one common share and one-half of one transferable share purchase warrant, with each whole warrant entitling the holder to purchase one additional common share of the Company for a period of up to twenty-four months at a price of $0.25
In addition, the Company has paid finder's fees for a total of $230,959.99 and issued an aggregate 1,539,733 finder's warrants (the "Finders Warrants"). Each Finders Warrant entitles the finder to purchase one additional common share of the Company for a period of up to twenty-four months at a price of $0.25.
Forthwith upon closing the Private Placement, Folkston Investments Limited became an insider to the Company holding 12.38% of the common shares of the Company.
The Company intends to use the proceeds from the Private Placement towards furthering the Company's business objectives and for general working capital.
The Private Placement is subject to final approval from the TSX Venture Exchange. All securities issued under the Private Placement are subject to a four-month and one-day hold period expiring on September 8, 2018.
ON BEHALF OF THE BOARD OF MAX RESOURCE CORP.
Brett Matich, CEO and President
Further information regarding the Company can be found on SEDAR at www.SEDAR.com, or by contacting the Company directly at (604) 365 1522.
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 statements that may be deemed as "forward-looking statements" within the meaning of applicable Canadian securities laws. All statements in this release, other than statements of historical facts, are forward-looking statements, including, without limitation, statements pertaining to completion of the Acquisition and any approvals required in connection with the Acquisition. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include: changes in market conditions, unsuccessful exploration results, changes in the price of commodities (particularly copper), unanticipated changes in key management personnel and general social, economic or geo-political conditions. Mining exploration and development is an inherently risky business. Accordingly the actual events may differ materially from those projected in the forward-looking statements. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be from time to time by the Company or on its behalf, except in accordance with applicable securities laws. We seek safe harbor.