Business
Maritime Announces the Closing of the Acquisition of Point Rousse Mining from Signal Gold, US$5.0M Brokered Private Placement of Notes and Warrants and C$1.735M Non-Brokered Private Placement of Units
Toronto, Ontario--(Newsfile Corp. - August 21, 2023) -   Maritime Resources Corp. (TSXV: MAE...
About this update from New Found Gold Corp
[{"type":"text","content":"Maritime Announces the Closing of the Acquisition of Point Rousse Mining from Signal Gold, US$5.0M Brokered Private Placement of Notes and Warrants and C$1.735M Non-Brokered Private Placement of UnitsToronto, Ontario--(Newsfile Corp. - August 21, 2023) -  Maritime Resources Corp. (TSXV: MAE) (\"Maritime\" or the \"Company\") is pleased to announce the closing of its previously announced acquisition (the \"Acquisition\") of all of the outstanding shares of Point Rousse Mining Inc. (\"Point Rousse\") from Signal Gold Inc. (\"Signal\" or the \"Vendor\") and the closing of its two previously announced financings, including a US$5.0M principal amount brokered note and common share purchase warrant offering (the \"Note Offering\") and C$1.735M of the first tranche under its up to C$3.0 million non-brokered private placement (the \"Unit Offering\", together with the Note Offering, the \"Offerings\") of units of the Company. The Note Offering included the previously announced investment by New Found Gold to acquire US$2.0 million principal amount of notes and warrants. Completion of the Offerings is subject to the final approval of the TSX Venture Exchange (the \"Exchange\").\"The completion of this transaction and the two concurrent financings represents a significant step forward for Maritime and our long-term vision of building a new Eastern Canadian gold producer. We are fortunate to have a terrific mix of assets in a top tier jurisdiction, including the fully permitted Pine Cove mill and tailings storage facility, the Nugget Pond gold circuit, access to a deep-water port, our advanced stage Hammerdown gold project and a pipeline of exploration targets within hauling distance of both process plants. Over the next few months we will be integrating these newly acquired assets into our business plan while completing any remaining permitting requirements. I would like to thank all our investors, local stakeholders and the Province of Newfoundland and Labrador for their support throughout these transactions\", commented Garett Macdonald, President and CEO of Maritime Resources. Point Rousse AcquisitionThe Company acquired all of the issued and outstanding shares of Point Rousse from Signal for aggregate consideration comprised of C$3 million in cash (the \"Cash Purchase Price\") and 23,970,218 common shares (the \"Consideration Shar...