CSE: CDN
OTCQB: AXVEF
Frankfurt:338B
VANCOUVER, BC, April 6, 2023 /CNW/ - CDN Maverick Capital Corp. ("Maverick" or the "Company") (CSE: CDN) (OTCPINK: AXVEF) (Frankfurt: 338B) is pleased to announce that it has closed its non-brokered private placement (the "Financing") and has issued 2,170,000 units (each, a "Unit") at a price of $0.80 per Unit for gross proceeds of $1,736,000. Each Unit consists of one common share and one share purchase warrant (each, a "Warrant"). Each Warrant entitles the holder to purchase one common share at a price of $1.00 per share until April 5, 2025, subject to accelerated expiry, at the option of the Company, in the event the closing price of the common shares of the Company exceeds $1.50 for five (5) consecutive trading days.
The Company intends to use the proceeds from the Financing for drilling and other exploration activities and general working capital purposes. In connection with closing of the Financing, the Company paid a finders' fee of $6,600 to an arms-length brokerage firm who assisted in introducing subscribers to the Financing. All securities issued under the Financing are subject to restrictions on resale in accordance with applicable securities laws until August 6, 2023.
About CDN Maverick Capital Corp:
CDN Maverick is a Vancouver-based diversified natural resource investment and junior exploration company whose main focus is the development of critical mineral projects. The company owns a 100% interest in the Nevasca Lithium Project located in the Arizaro Salar in Salta, Argentina. Maverick also controls in excess of 1.6 Mio shares of Noram Lithium Corp. (TSX-V: NRM) which is developing the Zeus Lithium Deposit in Clayton Valley Nevada, adjacent to Albemarle's Silver Peak Lithium mine and production facility. CDN Maverick also controls a 100% interest in the Rainbow Canyon Gold Project in the Olinghouse Mining District, in the Washoe County Nevada.
ON BEHALF OF THE BOARD OF DIRECTORS
Sandy MacDougall
Founder, Chairman and Director
sandyjmacdougall@gmail.com
C: 778.999.2159
This news release contains projections and forward - looking information that involve various risks and uncertainties regarding future events. Such forward - looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements; the uncertainty of future profitability; and the uncertainty of access to additional capital. These risks and uncertainties could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from anticipated in such information. These and all subsequent written and oral forward- looking information are based on estimates and opinions of management on the dates they are made and expressed qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking information should circumstance or management's estimates or opinions change.
Neither the Canadian Securities Exchange ("CSE") nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
SOURCE CDN Maverick Capital Corp.
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