Financing From Copper Junior in Colombia Goes Free-Trading

August 3, 2022 12:00 PM PST

Max Resource Corp. (TSX-V: MAX)

  • Gross proceeds: $7.7 million
  • Number of units: 29.65 million
  • Unit type: Special units
  • Price per unit: $0.26
  • Closing date: 03/28/2022
  • Today's closing price (June 7): $0.35
  • Deal appreciation: 34.6%
  • Warrants: Half
  • Strike Price: $0.36
  • Expiry date: 03/28/2024

Company breakdown:

  • Copper and silver junior focused on the Cesar project, located on the 200-kilometre Cesar Basin in northeastern Colombia
  • Max has a cooperation agreement with Endeavour Silver Corp. (TSX: EDR) to assist Max as it works to expand its landownings in the region, while Endeavour keeps an underlying 0.5% net smelter royalty
  • Shares of the company reached a 52-week high in April, shortly after the above private placement, and following drill results including 16.8 metres of 8.3% copper
  • The company was recently awarded concessions to cover another 99 square kilometres on the Cesar project
  • The company has completed a couple more private placements since the one listed above

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