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Maritime Resources Corp. (TSXV:MAE) has closed the first tranche of its previously announced private placement for gross proceeds of $511,250.
As quoted in the press release:
The Company has issued 235,000 flow-through units (FT Units) at $0.30 per FT Unit, 913,000 non flow-through units (NFT Units) at $0.25 per NFT Unit and 850,000 common shares at $0.25 per common share. Each FT Unit consists of one flow-through common share and one non-transferable share purchase warrant. Each NFT Unit consists of one common share and one non-transferable share purchase warrant. Each share purchase warrant attached to the FT Units and the NFT Units entitles the holder to purchase one non flow-through common share at a price of $0.35 until May 21, 2015. 104,000 of the NFT Units issued and the 850,000 common shares issued were for settlement of debt in the amount of $238,500 relating to repayment of loans and interest thereon and accrued fees for directors. Note this amount for debt settlement is a correction to our news release dated May 16, 2014.
Click here to read the Maritime Resources Corp. (TSXV:MAE) press release
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