Business
Maxtech Closes Financing
Vancouver, British Columbia (FSCwire) - Maxtech Ventures Inc. (CSE: MVT) (Frankfurt: M1N) (OTC: MTEHF), (“Maxtech” or the “Company”) is pleased to announce that
About this update from Spark Energy Minerals Inc
[{"type":"text","content":"Vancouver, British Columbia (FSCwire) - Maxtech Ventures Inc. (CSE: MVT) (Frankfurt: M1N) (OTC: MTEHF), (“Maxtech” or the “Company”) is pleased to announce that it has completed a non-brokered private placement with an offering comprised of 2,506,030 units of the corporation at a price of $0.35 per unit for aggregate gross proceeds of $877,110. Each Unit in the raise was comprised of one common share of the company and one common share purchase warrant. Each warrant entitles the holder to acquire an additional common share at a price of $0.45 per share for a period of two years from the closing date and is subject to an acceleration clause that is triggered should the companies shares trade at or above $0.60 for 14 consecutive trading days. All securities issued pursuant to the offering will be subject to a hold period expiring March 9, 2020. Finder’s fees were paid in connection with the offering. Additionally, 1,237,500 previously issued common share purchase warrants have been exercised since December 2017 for aggregate proceeds of $371,250. Maxtech is in receipt of the final Juina claims geological review which is the key element to the Guia process of the Brazilian Departamento Nacional de Produção Mineral (DNPM). The Brazil based geologist noted that the claim is composed of manganese mineralization with structural characteristics of tectonic interleaving where the outcrops are well exposed within the area. The mean levels obtained on this claim were 50% manganese metal and the analyses was done by SGS Geosol Laboratorios LTDA., Belo Horizonte, Brazil and noted in the Company release of May 4th, 2017. The Guia approval will allow the Juina claims to move into production. The Company will next focus on the lavra mining license and the potential reserve measure of the entire Brasnorte Project. Peter Wilson, CEO of Maxtech said, “We are looking forward to going into production in Juina and expanding our claims in the region. The additional capital received will support our activities in Brazil. We will continue working with our strategic relationships and seek additional offtake partnerships as we expand operations.” About Maxtech Ventures Inc. Maxtech Ventures Inc. is a Canadian based diversified industries corporation focused primarily on manganese mineral properties. For additional information see the Company’s web s...