Business
Maritime Announces Closing of the Final Tranche of Its Non-Brokered Private Placement of Units
Toronto, Ontario--(Newsfile Corp. - August 24, 2023) - Maritime Resources Corp. (TSXV: MAE) (" ...
About this update from New Found Gold Corp
[{"type":"text","content":"Maritime Announces Closing of the Final Tranche of Its Non-Brokered Private Placement of UnitsToronto, Ontario--(Newsfile Corp. - August 24, 2023) - Maritime Resources Corp. (TSXV: MAE) (\"Maritime\" or the \"Company\") is pleased to announce the closing of the final tranche of its previously announced non-brokered private placement (the \"Offering\") of 4,000,000 units (\"Units\") at a price of $0.04 per Unit for aggregate gross proceeds of $160,000. Each Unit is comprised of one common share (each, a \"Share\") and one common share purchase warrant (each, a \"Warrant\"), with each Warrant entitling the holder to acquire one Share (each, a \"Warrant Share\") at a price of $0.07 per Warrant Share (the \"Exercise Price\") until August 14, 2026 (the \"Warrant Expiry Date\"). The Warrants are governed by the terms of a warrant indenture entered into between the Company and Computershare Trust Company of Canada, as warrant agent, dated as of August 14, 2023. Completion of the Offering is subject to the final approval of the TSX Venture Exchange (the \"Exchange\"). In connection with the Offering, the Company paid a cash commission of $3,600 to a finder for certain subscriptions and issued broker warrants of the Company exercisable at any time prior to the Warrant Expiry Date to acquire up to 90,000 Shares at the Exercise Price.The net proceeds of the Offering will be used to fund general and working capital purposes. All securities issued pursuant to the Offering are subject to a hold period of four months plus a day from the date of issuance prescribed by the Exchange and the resale rules of applicable securities legislation. 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 holds a 100% direct interest, subject to option agreements entitling it to earn 100% ownership, in the Green Bay Property in Newfoundland and Labrador...