Vancouver, Canada – November 3, 2020 – Maxtech Ventures Inc. (“Maxtech” or the “Company“) (CSE: MVT) (Frankfurt: M1N) (OTC: MTEHF) is pleased to announce that it has closed its second tranche of a non-brokered private placement financing (the “Private Placement“) through the issuance of Units at $0.085 per Unit, for total combined gross proceeds of $1,351,225 for both tranches. During the past year the Company has raised over $2 million through its non-brokered placements.
The second tranche consists of 2,303,000 Flow Through units (the “FT- Units“) at a price of $0.095 per Flow Through Unit and 311,647 Non Flow Through Units (the “NTF- Units”) at a price of $0.085 per NTFUnit. Each Unit is comprised of one common share and one transferable share purchase warrant, with each warrant entitling the holder to purchase one additional common share of the Company for a period of up to 3 years at an exercise price of $0.12.
In connection with the closing of the Offering, the Company paid finder’s fees of $17,064.25 and issued 181,790 finder’s warrants to an arm’s length third party, with each finder’s warrant entitling the holder to purchase one common share of the Company for a period of up to 3 years at a price of $0.12 per shares.
The Company intends to use the proceeds from the Private Placement towards advancing its mineral projects and general working capital. All securities issued under the Private Placement are subject to a four-month and one-day hold period expiring on January 5, 2021. The Private Placement is subject to final CSE Exchange approval.
In addition to the private placement the Company has also issued of 195,000 shares as part of a Consulting Agreement settlement.
About Maxtech Ventures Inc.
Maxtech Ventures Inc., a Canadian-based diversified industries corporation, is focused on identifying and advancing high-value mineral properties.
For additional information see the Company’s web site at
Email to [email protected]
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Further information about the Company is available on www.SEDAR.com under the Company’s profile.