Business
Maritime Announces an Increase to Its Previously Announced Non-Brokered Private Placement from up to $5,000,000 to up to $6,250,000
Toronto, Ontario--(Newsfile Corp. - April 9, 2019) - Maritime Resources Corp. (TSXV: MAE) ("M...
About this update from New Found Gold Corp
[{"type":"text","content":"Maritime Announces an Increase to Its Previously Announced Non-Brokered Private Placement from up to $5,000,000 to up to $6,250,000Toronto, Ontario--(Newsfile Corp. - April 9, 2019) - Maritime Resources Corp. (TSXV: MAE) (\"Maritime\" or the \"Company\") is pleased to announce that is has increased the size of its previously announced non - brokered private placement from up to $5 million to up to $6.25 million through the issuance of a combination of units (the \"Units\") at a price of $0.10 per Unit and flow-through units (the \"FT Units\") at a price of $0.12 per FT Unit (the \"Offering\"). The other terms of the Offering, including the composition and attributes of the Units and FT Units, the appointment of certain advisors to the Company in connection with the Offering and the use of proceeds of the Offering are set out in the press release of the Company dated March 14, 2019, which is available on SEDAR at www.sedar.com. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933 (the \"1933 Act\") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined in the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration is available.About Maritime Resources Corp.:Maritime Resources holds a 100% interest in the Green Bay Property, including the former Hammerdown gold mine, located near the Baie Verte Mining District and Springdale, Newfoundland and Labrador. The Green Bay Property hosts a resource estimates on two deposits, the Hammerdown and the Orion deposits. Hammerdown contains measured and indicated resources of 925,670 tonnes grading 10.6 gpt for 315,535 ounces of gold and inferred resources of 1,557,000 tonnes grading 7.53 gpt for 377,000 ounces of gold. The Orion deposit contains measured and indicated resources of 1,096,500 tonnes grading 4.47 gpt for 157,600 ounces of gold and inferred resources of 1,288,000 tonnes grading 5.44 gpt for 225,300 ounces. CIM definition standards were followed for the resource estimate. The resource models used Ordinary Krig grade estimation within a three-dimensional block mod...