By Laura Lutz
Des Moines, April 19 - Max Resources Corp. arranged a private placement of flow-through and non flow-through units for C$7.1 million.
The company plans to sell up to 6.5 million non flow-through units at C$1.00 each and up to 500,000 flow-through units at C$1.20 each.
The non flow-through units will each consist of one non flow-through share and one half-share transferable warrant. The flow-through units will each consist of one flow-through share and one half-share transferable warrant.
Each warrant will be exercisable at C$1.30 for 18 months.
A syndicate led by Pacific International Securities Inc. and including Research Capital Corp. will act as agents for all of the flow-through and 5 million of the non flow-through units. The remainder will be non-brokered.
Proceeds will be used for exploration on the company properties and for working capital.
Based in Vancouver, B.C., Max is a uranium, precious metals and base metals exploration company.
| Issuer: | Max Resources Corp.
|
| Issue: | Units of one non flow-through share and one half-share warrant; units of one flow-though share and one half-share warrant
|
| Amount: | C$7.1 million
|
| Agents: | Pacific International Securities (lead) and Research Capital Corp. (for flow-through units and 5 million non flow-through units); non-brokered (for 1.5 million non flow-through units)
|
| Pricing date: | April 19
|
| Stock symbol: | TSX Venture: MXR
|
| Stock price: | C$1.13 at close April 13
|
|
|
| Flow-through units
|
| Units: | 500,000
|
| Price: | C$1.20
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$1.30
|
|
|
| Non flow-through units
|
| Units: | 6.5 million
|
| Price: | C$1.00
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$1.30
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
