By Sheri Kasprzak
Atlanta, Feb. 18 - Maxim Resources Inc. has increased the size of its previously announced C$1 million private placement to up to C$1.25 million.
The company will now sell up to 2.5 million units at C$0.50 each. The units include one share and one warrant.
The warrants allow for an additional share at C$0.75 each for one year.
The original offering called for up to 2 million units at C$0.50 each under the same terms.
Based in Vancouver, B.C., Maxim is an oil and gas exploration company. The proceeds will be used to finance the acquisition of additional oil and gas properties and for working capital.
| Issuer: | Maxim Resources Inc.
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| Issue: | Units of one share and one warrant
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| Amount: | C$1.25 million (maximum)
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| Units: | 2.5 million (maximum)
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| Price: | C$0.50
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| Warrants: | One warrant per unit
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| Warrant expiration: | One year
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| Warrant strike price: | C$0.75
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| Pricing date: | Feb. 17
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| Stock price: | C$0.61 at close Feb. 17
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