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Maritime Resources Closes $11.5-Million Best Efforts Private Placement

Jeffrey K. Merk, Adria Leung Lim, Russell J. Sanders and Ali Kwinter
On July 17, 2025, Maritime Resources Corp. (TSXV: MAE), a Canadian gold exploration and development company, announced the closing of its brokered "best efforts" private placement of common shares for aggregate gross proceeds of $11.5 million.
 

The offering was conducted by Paradigm Capital Inc., which acted as lead agent and sole bookrunner on a “best efforts” agency basis, together with SCP Resource Finance LP. Net proceeds from the offering will be used for exploration and development at Maritime’s mineral projects in Newfoundland and Labrador, to repay the balance of Maritime’s US$5-million aggregate principal amount of senior secured notes and for general working capital purposes.

Aird & Berlis represented Maritime Resources Corp. with a team led by Jeffrey Merk and Adria Leung Lim and including Russell Sanders and Ali Kwinter (Capital Markets).

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