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Mar 22, 2021

Maritime Resources Completes $6.9 Million Brokered Private Placement

Jeffrey K. Merk, Marek Lorenc, Liam Tracey-Raymont and Carol J. Burns

Maritime Resources Corp. (TSXV: MAE), a Canadian gold mining and exploration company, completed a brokered private placement of common shares on a “flow-through” basis for gross proceeds of $6,906,900, including the full exercise of the Agents’ over-allotment option. Maritime Resources issued 38,500,000 common shares on a “flow-through” basis at a price of $0.1794 per flow-through share.

An amount equal to the gross proceeds of the offering will be used by Maritime Resources to incur "qualifying expenditures" on the company's mineral properties in Newfoundland and Labrador.

The Aird & Berlis team representing Maritime Resources included Jeffrey Merk, Marek Lorenc, Liam Tracey-Raymont, David Mba (Capital Markets) and Carol Burns (Tax).

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