Maritime Resources (TSE:MAE) has released an update.
Maritime Resources Corp. successfully closed an $8 million rights offering, backed by Dundee Corporation, to fund the upgrade of their Pine Cove mill, advance the Hammerdown Gold Project, and for general corporate purposes. Dundee, in exchange for ensuring the offering’s success, acquired a significant share of Maritime’s common shares totaling 37.7% ownership and received additional compensation warrants.
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