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VANCOUVER - Maxus Mining Inc. (CSE:MAXM | FRA: R7V) has closed its previously announced non-brokered private placement, raising $3,605,770 through the issuance of 10,302,200 units at $0.35 per unit, the company announced Tuesday. The stock currently trades at $0.62, near its 52-week high of $0.65, reflecting strong investor confidence in the company’s direction.
Each unit consists of one common share and one transferable warrant, with each warrant allowing the holder to purchase an additional share at $0.46 for a period of 24 months from the closing date.
In connection with the offering, Maxus paid finder’s fees of $252,403.90 and issued 721,154 finder’s warrants to arm’s length parties. The finder’s warrants have the same terms as those included in the units.
The company stated that proceeds will be directed toward exploration activities on its properties and for general working capital purposes. According to InvestingPro data, Maxus maintains an excellent financial health score of 4.54, suggesting strong financial management. Securities issued under the offering will be subject to a statutory hold period of four months and one day from issuance.
The company’s stock has demonstrated remarkable performance, posting a 111.9% return year-to-date. Maxus Mining’s portfolio includes approximately 9,921 hectares of exploration properties across British Columbia. This comprises 6,376 hectares across three antimony projects, 3,123 hectares in the Penny Copper Project, and 422 hectares in the Lotto Tungsten Project.
The Penny Copper Project is located near the former Sullivan Mine in Kimberley, British Columbia. Historical grab samples from the project have returned copper values up to 2,388 ppm Cu, according to information provided in the company statement.
The securities have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States without registration or an applicable exemption from U.S. registration requirements. For deeper insights into Maxus Mining’s financial metrics and exclusive analysis, visit InvestingPro, where subscribers can access comprehensive financial data and expert research.
This information is based on a press release statement issued by Maxus Mining Inc.
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