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Aug 21, 2020

Maritime Resources Completes $8.7 Million Bought Deal Private Placement

Jeffrey K. Merk, Melanie Cole, Liam Tracey-Raymont, Russell J. Sanders, Carol J. Burns, Barbara Worndl and Vernon Lin

Maritime Resources Corp. (TSXV: MAE), a Canadian gold mining and exploration company, completed a bought deal private placement of common shares and flow-through common shares for aggregate gross proceeds of approximately $8.7 million. Maritime Resources issued a combination of 43,367,550 common shares at $0.15 each and 11,000,000 flow-through common shares at $0.20 each.

The net proceeds of the offering will be used by Maritime Resources to facilitate the continued optimization and de-risking of the Hammerdown Gold Project in Newfoundland and Labrador, as well as allow for the company to expand its exploration programs at the Hammerdown Gold Project and its Whisker Valley gold exploration project, located within 10 kilometers northwest of the Hammerdown site.

The Aird & Berlis team representing Maritime Resources was led by Jeffrey Merk and included Melanie Cole, Liam Tracey-Raymont, Russell Sanders (Capital Markets), Carol Burns, Barbara Worndl (Tax) and Vernon Lin (Summer Student).

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