Maxus Mining Announces Closing of Flow Through Private Placement

Core Points - Maxus Mining Inc. has successfully closed a non-brokered private placement, raising gross proceeds of C$2,600,500.10 through the issuance of 2,364,091 flow-through shares at a price of C$1.10 per share [1][2] - The proceeds from the offering will be allocated towards exploration activities on the company's project portfolio, which includes various mineral properties in Canada [1][2] Company Overview - Maxus Mining Inc. is a mineral exploration company focused on locating, acquiring, and developing economic mineral properties in premier jurisdictions, with a diverse portfolio covering approximately 15,342 hectares [5] - The company's projects include three antimony projects, the Penny Copper Project, and the Lotto Tungsten Project, with significant historical exploration activity and promising assay results [5][6][7] Financial Details - The company paid a total of $155,700 in cash finder's fees related to the private placement [3] - All securities issued in connection with the offering are subject to a statutory hold period of four months and one day [3] Project Highlights - The Penny Copper Project, covering 3,123 hectares, has a history of exploration and recent sampling returning copper values up to 2,388 ppm [6] - The Quarry Antimony Project has shown promising historical assay results, including high-grade antimony and other metals [7] - The Alturas Project recently reported high-grade antimony assays up to 69.98% Sb, indicating strong potential for future exploration [7]