Proactive Investors - Run By Investors For Investors

Maxim Resources postpones AGM as due diligence continues for UAE deal

Maxim Resources postpones AGM as due diligence continues for UAE deal

Maxim Resources (CVE:MXM) has postponed an AGM until June 8 so that management has more time to conduct due diligence over a proposed acquisition in the United Arab Emirates.

Through the proposed deal the company can acquire an indirect interest of up to 17.5% in an oil and gas exploration and production concession for an onshore area within the Emirate of Umm Al-Quwain.

The acreage spans almost 750 square kilometres, which represents the majority of Umm Al Quwain. 

It is described as being prospective for oil and gas, and is ‘on-trend’ with significant producing in adjacent Emirates as well as neighbouring Sultanate of Oman.

Details of the deal were first announced in March.

Why Invest In Maxim Resources Inc? Read More Here

Register here to be notified of future MXM Company articles
View full MXM profile

Maxim Resources Inc Timeline

Related Articles

Offshore oil operations
June 30 2016
The Toronto Ventures quoted oil explorer has a 40% stake in the neighbouring block, and as such feels a significant boost along with the rest of Guyana’s emerging oi sector.
September 20 2016
Cadogan has now stemmed its losses. The next step will be a real turnaround
March 15 2017
AEG said it plans to build the first commercial-scale plant for its revolutionary biomass product

© Proactive Investors 2017

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use