Maxim Resources Inc. (TSXV:MXM) announced a non-brokered private placement of up to 12,000,000 units at a price of CAD 0.025 per unit for gross proceeds of up to CAD 300,000 on February 29, 2016. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one common share at an exercise price of CAD 0.05 for a period of five years from the date of closing.

The company may pay finder's fees as per TSX Venture Exchange policies. The offering is open to existing shareholders, accredited investors, and family members, close friends and business associates of directors and officers of the company. The minimum investment accepted from any investor is CAD 1,500.

The transaction is subject to regulatory approval and approval by TSX Venture Exchange. The securities issued are subject to a hold period of four months.