Max Resource Corp. announced a brokered best efforts private placement transaction of 2,500,000 units at a price of CAD 0.60 per unit for gross proceeds of up to CAD 1,500,000 and non-brokered private placement of units for gross proceeds of up to CAD 15,300,000 for total gross proceeds of CAD 16,800,000 on May 11, 2022. Each unit will consist of one common share and one common share purchase warrant.

Each Warrant will entitle the holder to acquire one common share of the company at an exercise price of CAD 0.85 per share for a period of 12 months following the closing of the offering. The transaction is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the approval of the TSX Venture Exchange and is scheduled to close on or about May 31, 2022.