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Maxim Resources retains plans for London dual-listing

Efforts to conclude an acquisition and new partnership for assets in the United Arab Emirates was a key focus during recent months.
Maxim Resources retains plans for London dual-listing
A co-operation agreement was signed between Maxim and its new partner Quest Energy LLC at the end of October

Maxim Resources (CVE:MXM) has told investors it intends to continue with its planned dual listing onto London’s AIM market.

In documents accompanying its interim results, Maxim said it is in the process of discussions with investors which were part of a syndicate that previously made indicative investment orders.

The pre-revenue oil and gas junior, which currently has assets in Morocco, reported a C$227,726 loss for the three month period to September 30 and ended the quarter with C$89,571 of cash and equivalents.

Efforts to conclude an acquisition and new partnership for assets in the United Arab Emirates was a key focus during recent months.

A co-operation agreement was signed between Maxim and its new partner Quest Energy LLC at the end of October.

“The agreement forms the foundation for a strategic relationship between QE and Maxim, enabling the joint evaluation and potential acquisition of oil and gas projects that either company is considering,” Maxim highlighted.

It added: “The intention is that cash flow or near term cash flow will be a strong focus for the opportunities considered under the terms of the agreement.”

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