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Maxim Resources raises $584,750 after completing placing

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Toronto listed Maxim Resources (CVE:MXM) has closed its non-brokered private placing, raising gross proceeds of $584,750, it said.

The oil and gas company issued around 4.7mln units at $0.125 each.

Each unit consisted of one company share and one common share purchase warrant, entitling the bearer to acquire one share for $0.18 until December 29 2016.

The firm recently invested in a reconnaissance contract for the Hassi Berkane block in Morocco in partnership with the National Office of Hydrocarbons and Mines (ONHYM).

Maxim chairman Art Brown said: "The closing of this private placement continues to validate the market's view of our business strategy and the future prospects of our operations in Morocco."

Quick facts: Maxim Resources Inc

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TSX-V:MXM
Market: TSX-V
Market Cap: -
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