Maritime Resources Engages Bayfront Capital Partners For Capital Solution

Maritime Resources Corp. (TSXV:MAE) has hired Bayfront Capital Partners Ltd. as a Financial Advisor to provide a complete capital solution for the Company. Bayfront is now negotiating with a potential debt provider to enter into a non-binding Letter of Intent for up to $20 million for the capital expenditure required to re-open the historic underground working at the Hammerdown mine.

As quoted in the press release:

On completion of a successful Engineering and Evaluation study, the debt financing scenario for the capital cost requirements would mean minimal dilution to Maritime’s capital structure. This, together with the toll milling option at the Nugget Pond milling facility with Rambler Metals and Mining Ltd. (“Rambler”), will keep capital costs to a minimum and shorten the expected time line to bring the project back into commercial production.

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