Jun 18, 2014
VANCOUVER, BC - Maritime Resources Corp. (MAE-TSX Venture) reports that a second final portion of the non-brokered private placement announced on May 9, 2014 has closed for gross proceeds of $26,000, bringing the total proceeds from the financing to $537,250. The Company has issued 20,000 flow-through units (FT Units) at $0.30 per FT Unit and 80,000 non flow-through units (NFT Units) at $0.25 per NFT Unit. Each FT Unit consists of one flow-through common share and one non-transferable share purchase warrant. Each NFT Unit consists of one common share and one non-transferable share purchase warrant. Each share purchase warrant attached to the FT Units and the NFT Units entitles the holder to purchase one non flow-through common share at a price of $0.35 until June 17, 2015.
No finders' fees were paid in connection with this portion of the financing.
All the securities issued hereunder are subject to a four month hold period and may not be traded until October 19, 2014.
About Maritime Resource Corp:
Maritime Resources holds 100% of the Green Bay property, located near Springdale, Newfoundland. The property hosts the past producing Hammerdown gold mine and the Orion gold deposit. In addition, the property hosts the Lochinvar base metals/precious metals deposit.
On behalf of the Board of Directors,
President & CEO
Cathy DiVito, Investor Relations Telephone: (604) 484-7111
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. Statements in this press release, other than purely historical information, including statements relating to the Company's future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.