Maxim Resources Inc. V.MXM

News

[Scruff]

Maxim Res. files price form for $2.5-million financing 2014-11-20 19:12 ET - News Release Mr. Arthur Brown reports MAXIM ANNOUNCES PRICE RESERVATION FOR FINANCING Maxim Resources Inc. submitted a price reservation form (Form 4A) with the TSX Venture Exchange on Oct. 20, 2014. The non-brokered private placement offering is for up to 20 million units at a price of 12.5 cents per unit for total gross proceeds of up to $2.5-million. Each unit shall comprise one common share in the capital of the company and one whole warrant to acquire a common share at an exercise price of 18 cents per common share for a period of two years from the date of issuance. The offering is expected to close on or before Dec. 4, 2014. The unit price was based on the closing price of the common shares on the TSX-V as reflected in the company's filing of a price reservation form (Form 4A) with the TSX-V on Oct. 19, 2014. Should the company choose to use this price reservation for a non-brokered financing, the use of proceeds from the offering will be used for general working capital. The securities issued pursuant to the offering will be subject to a statutory four-month-plus-one-day hold period from the date of issuance. The offering remains subject to TSX-V approval and applicable regulatory authorities. We seek Safe Harbor