The Company has now set a minimum for the offering (the 'Offering') of 9,745,744 units (the 'Units') at a price of
The Offering is scheduled to close on or about
Private Placement Terms
Each Unit will consist of one common share in the capital of the
Use of Proceeds
The Company plans to use the net proceeds of this financing for exploration, evaluation of new resource projects, general and administrative expenses which will include funds for marketing and investor relations fees and cash for working capital.
Acceleration Clause
If at any time after the date of issuance of the Warrant, the closing price of the Company's common shares on the CSE (or such other stock exchange on which the common shares may be traded from time to time) is at or above
Additional Details
Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 - Prospectus Exemptions ('NI 45-106'), the Offering is being made to purchasers who are residents in each of the Provinces of
There is an amended and restated offering document (the 'Offering Document') related to the Offering that can be accessed under the Company's profile at www.sedarplus.ca and on the Company's website at: www.MaxPowerMining.com. Prospective investors should read this amended and restated Offering Document before making an investment decision.
Certain insiders of the Company may acquire Units in the Offering. Any participation by insiders in the Private Placement would constitute a 'related party transaction' as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ('MI 61-101'). However, the Company expects such participation would be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the fair market value of the Units subscribed for by the insiders, nor the consideration for the Units paid by such insiders, would exceed 25% of the Company's market capitalization.
In connection with the Offering, the Company may pay finder's fees consisting of: (i) cash finder's fees of up to 7% of the gross proceeds of the Offering and (ii) finder warrants ('Finder's Warrant') in an amount equal to up to 7% of the number of Units issued pursuant to the Offering, exercisable at a price of
Disclaimer
This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in
About
Contact:
CEO
Tel: 877-261-4466.
Forward-Looking, Cautionary Statements
This press release contains forward looking statements within the meaning of applicable securities laws. The use of any of the words 'anticipate', 'plan', 'continue', 'expect', 'estimate', 'objective', 'may', 'will', 'project', 'should', 'predict', 'potential' and similar expressions are intended to identify forward looking statements. In particular, this press release contains forward looking statements concerning, without limitation, statements relating to the Offering (including with respect to the timing and closing of the Offering). Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company cannot give any assurance that they will prove correct. Since forward looking statements address future events and conditions, they involve inherent assumptions, risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of assumptions, factors and risks. These assumptions and risks include, but are not limited to, assumptions and risks associated with the receipt of regulatory or shareholder approvals, and risks related to the state of financial markets or future metals prices.
Management has provided the above summary of risks and assumptions related to forward looking statements in this press release in order to provide readers with a more comprehensive perspective on the Company's future operations. The Company's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive from them. These forward-looking statements are made as of the date of this press release, and, other than as required by applicable securities laws, the Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise.
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