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Maritime Resources Announces Proceeds of $1.94 Million from Exercise of Warrants
Toronto, Ontario--(Newsfile Corp. - April 13, 2021) -  Maritime Resources Corp. (TSXV: M...
About this update from New Found Gold Corp
[{"type":"text","content":"Maritime Resources Announces Proceeds of $1.94 Million from Exercise of WarrantsToronto, Ontario--(Newsfile Corp. - April 13, 2021) -  Maritime Resources Corp. (TSXV: MAE) (\"Maritime\" or the \"Company\") is pleased to announce the exercise of 12,959,357 common share purchase warrants for gross proceeds of $1.94 million. Each common share purchase warrant was exercisable for one whole common share of the Company, for a period of two years at an exercise price of $0.15. The warrants were issued in connection with a non-brokered private placement announced on March 14, 2019. Maritime currently has 7.9 million common share purchase warrants outstanding. \"This infusion of cash further strengthens Maritime's balance sheet, which following the close of Tembo Capital's private placement and the purchase of the Nugget Pond gold circuit announced earlier today brings the Company's current cash position to $11.5 million,\" commented Garett Macdonald, President and CEO of Maritime. \"2021 will be a pivotal year for Maritime as we advance the Hammerdown Gold Project through feasibility and permitting while conducting an extensive exploration program across our key projects in Newfoundland and Labrador,\" continued Mr. Macdonald. Maritime would like to acknowledge the financial support provided through the Government of Newfoundland and Labrador's Junior Exploration Assistance Program for the Company's exploration program conducted at the Green Bay project during 2020. About Maritime Resources Corp.Maritime holds a 100% interest, directly and subject to option agreements entitling it to earn 100% ownership, in the Green Bay Property, including the former Hammerdown gold mine, and the Orion gold project plus the Whisker Valley exploration project, all located in the Baie Verte Mining District near the town of King's Point, Newfoundland and Labrador. The Hammerdown Gold Project is characterized by near-vertical, narrow mesothermal quartz veins containing gold associated with pyrite. Hammerdown was last operated by Richmont Mines between 2000-2004. On Behalf of the Board:Garett Macdonald, MBA, P.Eng.President and CEOFor further information, please contact:Tania Barreto, CPIRHead of Investor Relations1900-110 Yonge Street, Toronto, ON M5C 1T4416-365-5323www.maritimeresourcescorp.comTwitterFacebookLinkedInYouTubeCaution Regarding Forward L...