Maxim Announces Private Placement
April 9, 2012 - Vancouver, B.C. - Maxim Resources Inc. ("Maxim" or the "Company") is pleased to announce a non-brokered private placement of 6,250,000 Units of the Company at a price of $0.08 per Unit. Each Unit will consist of one common share and one Share Purchase Warrant at an exercise price of $0.12. The gross proceeds will be $500,000.
The securities issued pursuant to the Private Placement will be subject to a four-month hold period from the date of closing..
The Private Placement is subject to the approval of the TSX Venture Exchange ("TSXV"). A finder's fee may be payable in accordance with the policies of the TSXV.
The proceeds of the private placement will be used for deposits on acquisition opportunities and general working capital.
About Maxim
Maxim is a junior oil and gas production and exploration company based in Vancouver, Canada. Maxim presently holds, through NSOG, a 69% Net Revenue Interest in exploration and production of Jasmin within the South Erin Block, which cover 1,350 acres. After payout of the investment to Maxim, the Net Revenue Interest will reduce to 41%. Jasmin has drilled 5 wells to date and the exploration licenses for this Block allow for up to a further 42 wells to be drilled.
On behalf of the Board
"Arthur Brown"
Arthur Brown
President and CEO
For further information, please contact Arthur Brown, President and CEO of the Company at (604) 630-0280 or toll free at 1-888-882-8891. E-mail: info@maximresources.com http://www.maximresources.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, is forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the company's disclosure documents on the SEDAR website at www.sedar.com. The company does not undertake to update any forward-looking information except in accordance with applicable securities laws.
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