Maritime Resources Corp. announced a private placement to issue senior secured non-convertible notes for the gross proceeds of $5,000,000 on September 5, 2023. The notes mature on August 14, 2025, and may be extended by an additional year by under certain circumstances.

In connection with the issuance of notes, The company also has issued 38,311,427 warrants to the subscribers. Each warrant is exercisable at $0.07 per share and expires on August 14, 2025, subject to extension in the event that the maturity date of the notes is extended to August 14, 2026. The TSX Venture Exchange has accepted for filing the company's proposal