An announcement from Maritime Resources ( (TSE:MAE) ) is now available.
Maritime Resources Corp. has announced an increase in its previously planned private placement offering to $20 million, with Paradigm Capital Inc. as the lead agent. This upsize involves the issuance of up to 266,700,000 units at $0.075 per unit, with significant investments from Eric Sprott and Dundee Corporation. The proceeds will be used for exploration, development, and general working capital, with the offering expected to close on April 9, 2025, subject to regulatory approvals.
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. Maritime controls over 439 km² of exploration land and owns mineral processing assets in the Baie Verte mining district, including the Pine Cove mill and the Nugget Pond gold circuit.
YTD Price Performance: 33.33%
Average Trading Volume: 435,094
Technical Sentiment Consensus Rating: Sell
Current Market Cap: C$71.33M
For a thorough assessment of MAE stock, go to TipRanks’ Stock Analysis page.