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Maxim Resources raises $386,400 in placing

Maxim Resources closed the previously announced private placing and raised $386,400.
Pictured is black gold - crude oil in a vessel....
Maxim Resources is an oil and gas junior..

Maxim Resources Inc (CVE:MXM) closed the previously announced private placing and raised $386,400.

The funds will be used to explore the company's Hassi Berkane block in Morocco and for corporate and working capital.

Maxim issued a total of around 15.45mln shares at 2.5 cents a  unit.

Each unit consist of one share and one share purchase warrant, exercisable into one share at a price of C$0.05 per share for five years from the offer closing.

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