VANCOUVER, BC–(Marketwired – April 28, 2017) – Maxtech Ventures Inc. (CSE: MVT) (FRANKFURT: M1N) (OTC: MTEHF), (“Maxtech” or the “Company”) announces a new non-brokered private placement of up to $2,000,000.
Maxtech will issue up to 5,000,000 units at $.40 per unit, each unit being comprised of one common share in the capital of the Company and one share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to purchase one additional common share for a period of two years at an exercise price of $.50 per share for the first year and at an exercise price of $.60 thereafter. The Warrants will be subject to an accelerated expiration period in the event the Company’s shares trade on a recognized exchange at more than $.70 for a 14 day period, which will include days where no shares trade, after a period that is four months and a day from the issuance of the Warrants.
The proceeds to be raised will be used for working capital and to further the Company’s plans to acquire additional manganese assets worldwide.
Maxtech has now amassed approximately 57,000 hectares of exploration claims in Brazil, which is one of the largest manganese mineral exploration claim sets in the country. The Company claims are located in the northern states of Mato Grosso and Amazonas.
“In addition to entering our second stage of exploration in Brazil, the Company is actively reviewing potential acquisitions outside of Brazil in Northern Africa and Europe,” said Peter Wilson, CEO.
About Maxtech Ventures Inc.
Maxtech Ventures Inc. is a Canadian based diversified industries corporation with gold and manganese mineral properties. Its focus is on mining and the products that are derived therefrom.
For additional information see the Company’s web site at http://www.maxtech-ventures.com
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Further information about the Company is available on www.SEDAR.com under the Company’s profile.
Certain statements contained in this release may constitute “forward-looking statements” or “forward-looking information” (collectively “forward-looking information”) as those terms are used in the Private Securities Litigation Reform Act of 1995 and similar Canadian laws. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated”, “anticipates” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the business of the Company, the Property, financing and certain corporate changes. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.