An announcement from Maritime Resources ( (TSE:MAE) ) is now available.
Maritime Resources has announced its decision to issue up to 3,593,750 common shares to satisfy interest payment obligations on its US$5,000,000 non-convertible senior secured notes. This move, subject to TSX Venture Exchange approval, involves a related party transaction with Dundee Resources Limited, but falls within exemptions from formal valuation and minority shareholder approval requirements. This strategic decision reflects Maritime’s approach to managing its financial obligations while maintaining its focus on gold exploration and development in a top-tier mining jurisdiction.
More about Maritime Resources
Maritime Resources Corp. is a gold exploration and development company focused on advancing the Hammerdown Gold Project in the Baie Verte District of Newfoundland and Labrador. The company holds a 100% interest in the Green Bay Property, including the former Hammerdown gold mine and the Orion gold project, and controls over 439 km2 of exploration land. Maritime also owns mineral processing assets in the Baie Verte mining district, including the Pine Cove mill and the Nugget Pond gold circuit.
YTD Price Performance: 33.33%
Average Trading Volume: 466,217
Technical Sentiment Signal: Sell
Current Market Cap: C$67.43M
For detailed information about MAE stock, go to TipRanks’ Stock Analysis page.