Max Resource Corp. announced a non-brokered private placement of up to 26,000,000 units at a price of CAD 0.26 per unit for gross proceeds of up to CAD 6,760,000 on February 28, 2022. The transaction will include participation from new investor Endeavour Silver Corp.

to acquire approximately 5% stake in the company. Endeavour Silver Corp. has also agreed not to dispose of any shares acquired in the transaction for a period of two years following closing.

Each unit consists of one common share of the company and one-half of one transferable share purchase warrant. Each whole warrant will be exercisable to acquire one additional share at an exercise price of CAD 0.36 per share for a period of 24 months from the date of issuance. The securities issued will be subject to a hold period of four months and one day following the date of issuance.

The transaction is subject to approval of the TSX Venture Exchange. The transaction is subject to the parties entering into a definitive cooperation agreement on or about March 15, 2022.