By Laura Lutz
Des Moines, May 14 - Max Resources Corp. increased the size of the non-brokered portion of its private placement of units to C$3,000,800 from C$1.5 million, upsizing the total deal to C$8,600,800 from C$7.1 million.
The company plans to sell up to 7.75 million non flow-through units at C$1.00 each and up to 709,000 flow-through units at C$1.20 each.
The non-brokered portion will now include up to 209,000 flow-through units and up to 2.75 million non flow-through units.
A syndicate led by Pacific International Securities Inc. and including Research Capital Corp. will act as agents for 500,000 of the flow-through and 5 million of the non flow-through units.
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 from either series of units will be exercisable at C$1.30 for 18 months.
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$8,600,800
|
| Agents: | Pacific International Securities (lead) and Research Capital Corp. (for 500,000 flow-through units and 5 million non flow-through units); non-brokered (for 209,000 flow-through units and 2.75 million non flow-through units)
|
| Pricing date: | April 19
|
| Upsized: | May 14
|
| Stock symbol: | TSX Venture: MXR
|
| Stock price: | C$1.13 at close April 13
|
| Stock price: | C$1.23 at close May 14
|
|
|
| Flow-through units
|
| Units: | 709,000
|
| 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: | 7.75 million
|
| Price: | C$1.00
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$1.30
|
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