- MAX Power (MAXX) has announced a non-brokered private placement for gross proceeds of up to $1,500,000
- The company will issue up to 600,000 units at a price of $0.40 per unit
- Proceeds will be used for mineral exploration and working capital purposes
- MAX Power is an exploration stage resource company
- Max Power Mining Corp. (MAXX) opened trading at C$0.49 per share
MAX Power (MAXX) has announced a non-brokered private placement for gross proceeds of up to $1,500,000.
The company will issue up to 600,000 units at a price of $0.40 per unit. Each unit will consist of one common share and one half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share at a price of $0.60 for a period of 12 months following the closing date of the offering.
The warrants will include an acceleration clause.
Proceeds will be used for mineral exploration and working capital purposes.
CEO Mr. Rav Mlait stated,
“MAX Power is off to a robust start as a public company following a successful IPO in mid-February, the launch of initial drilling at Nicobat, and a continued review of strategic opportunities in the broader commodities space. This private placement further strengthens our balance sheet so we can provide shareholders with maximum potential leverage.”
MAX Power is an exploration stage resource company currently engaged in the acquisition and exploration of high-grade projects.
Max Power Mining Corp. (MAXX) opened trading at C$0.49 per share.