Maxtech Ventures announces $2M financing

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By CPE News

Vancouver (pcJ News Briefs) – Maxtech Ventures Inc. (CSE: MVT; FSE: M1N; OTCPK: MTEHF) intends to close a non-brokered private placement of up to 5,000,000 units at $.40 per unit for gross proceeds of up to $2,000,000.

Each unit is comprised of one common share and one share purchase warrant. Each warrant will entitle the holder to purchase one additional common share for a period of two years at an exercise price of $.50 per share for the first year and at an exercise price of $.60 thereafter.

Proceeds will be used for working capital and to further Maxtech’s plans to acquire additional manganese assets worldwide.

Maxtech has now amassed approximately 57,000 hectares of exploration claims in Brazil, which is one of the largest manganese mineral exploration claim sets in the country. The company claims are located in the northern states of Mato Grosso and Amazonas.

“In addition to entering our second stage of exploration in Brazil, the Company is actively reviewing potential acquisitions outside of Brazil in Northern Africa and Europe,” said Peter Wilson, CEO.

Maxtech Ventures Inc. is a Canadian based diversified industries corporation with gold and manganese mineral properties.

photo credit: Maxtech Ventures