Maritime Resources Issues Shares to Satisfy Interest Payments

The latest update is out from Maritime Resources ( (TSE:MAE) ).

Maritime Resources has issued 2,573,090 common shares to satisfy interest payment obligations on US$5,000,000 non-convertible senior secured notes. This issuance, including 514,618 shares to Dundee Corporation, is considered a related party transaction and is subject to TSX Venture Exchange approval. The company utilized exemptions from formal valuation and minority shareholder approval requirements under MI 61-101, as the transaction did not exceed 25% of its market capitalization.

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. 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 in the area. Maritime also owns mineral processing assets such as the Pine Cove mill and the Nugget Pond gold circuit.

YTD Price Performance: 66.67%

Average Trading Volume: 496,848

Technical Sentiment Signal: Strong Sell

Current Market Cap: C$71.65M

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