The latest update is out from Maritime Resources ( (TSE:MAE) ).
Maritime Resources Corp. has announced a private placement financing agreement with Paradigm Capital Inc. to raise up to $15 million through the issuance of 200,000,000 units, each consisting of one common share and one-half of a warrant. The funds raised will be used for exploration, development, and general working capital purposes. Notable investors include Eric Sprott and Dundee Corporation, contributing significant portions of the financing. The offering will be conducted in Canada and the United States, subject to regulatory approvals and customary closing conditions, with an expected closing date of April 9, 2025.
More about Maritime Resources
Maritime Resources Corp. is a gold exploration and development company focused on advancing the Hammerdown Gold Project in the Baie Verte District of Newfoundland and Labrador, a top-tier global mining jurisdiction. The company holds a 100% interest in the Green Bay Property, which includes the former Hammerdown gold mine and the Orion gold project, and controls over 439 km² of exploration land including the Green Bay, Whisker Valley, Gull Ridge, and Point Rousse projects. Maritime also owns mineral processing assets in the Baie Verte mining district, including the Pine Cove mill and the Nugget Pond gold circuit.
YTD Price Performance: 41.67%
Average Trading Volume: 424,456
Technical Sentiment Consensus Rating: Sell
Current Market Cap: C$71.33M
For an in-depth examination of MAE stock, go to TipRanks’ Stock Analysis page.