- MAX Power Mining Corp. (MAXX) has completed its upsized, non-brokered private placement for gross proceeds of $1,854,000
- The company issued 3,708,000 units for $0.50 per unit
- Proceeds will be used for general working capital purposes
- MAX Power is an exploration-stage resource company
- Max Power Mining Corp. (MAXX) is down 6.17 per cent on the day, trading at C$0.76 per share at 3:30 pm ET
MAX Power Mining Corp. (MAXX) has completed its previously-announced, upsized, non-brokered private placement for gross proceeds of $1,854,000.
The company issued 3,708,000 units for $0.50 per unit.
CEO Mr. Rav Mlait commented on the success of the company’s capital raise.
“The completion of this private placement with strategic investors builds upon MAX Power’s already strong cash position as we actively review potential high-impact opportunities in the lithium sector.”
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 for a period of 12 months following the closing of the offering.
The warrants include an acceleration clause.
Proceeds will be used for general working capital purposes.
MAX Power is an exploration-stage resource company engaged in the acquisition and exploration of high-grade projects. Its current focus is the Nicobat Project in Northwest Ontario’s Rainy River district that hosts New Gold’s Rainy River gold mine.
Max Power Mining Corp. (MAXX) is down 6.17 per cent on the day, trading at C$0.76 per share at 3:30 pm ET.