Folkston Investments Limited Announces Acquisition of Common Shares of Max Resource Corp.
Vancouver, British Columbia--(Newsfile Corp. - May 17, 2018) - Max Resource Corp. (TSXV: MXR) (OTC Pink: MXROF) (FSE: M1D) ("MXR" or the "Company") reports:
On May 7, 2018, Folkston Investments Limited ("Folkston") acquired beneficial ownership of 6,666,666 units ("Units") in the capital of Max Resource Corp. ("Max").
As of May 7, 2018, Folkston acquired beneficial ownership of 6,666,666 Units in the capital of Max at the closing of the private placement offering as announced by Max press release dated May 7, 2018. Each Unit consisted of one common share and one-half of one common share purchase warrant (a "Warrant"), and were purchased at a price of $0.15 per Unit. Each whole Warrant entitles Folkston to acquire one common share for a period of 24 months at a price of $0.25 per common share. Folkston had a starting balance of zero common shares and zero warrants before the private placement closed.
As a result, Folkston currently holds 6,666,666 common shares, representing approximately 12.38% of the currently issued and outstanding common shares of Max.
There are no other persons acting jointly or in concert with Folkston.
Folkston effected the acquisition of common shares for investment purposes and reserves the right to purchase additional securities of Max from time to time and to dispose of any securities of Max that they may own.
An Early Warning Report dated May 16, 2018 has been filed on SEDAR under the profile of Max.
About Max Resource Corp.
Max Resource Corp., a Canadian-based exploration company, its focused on acquiring advanced exploration projects which are located within the under-explored northern section of the richly endowed Andean Copper Belt of Colombia.
ON BEHALF OF THE BOARD OF MAX RESOURCE CORP.
Brett Matich, CEO and President
Further information regarding the Company can be found on SEDAR at www.SEDAR.com, or by contacting the Company directly at (604) 365 1522.
Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.