Maxim Resources Inc.
TSX VENTURE : MXM
OTC Bulletin Board : MXMSF
FRANKFURT : M5H

Maxim Resources Inc.

August 05, 2009 11:04 ET

Maxim Resources Inc.: Cease Trade Order Revoked

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 5, 2009) - Maxim Resources Inc. ("Maxim" or the "Company") (TSX VENTURE:MXM)(OTCBB:MXMSF)(FRANKFURT:M5H) is pleased to announce that the British Columbia Securities Commission (the "BCSC") has issued a Revocation Order dated August 4, 2009 that grants full revocation of the Cease Trade Order that was issued by the BCSC in effect against Maxim dated May 4, 2009. On July 31, 2009 Maxim filed its annual audited financial statements and management discussion and analysis for the period ended December 31, 2008 (the "Financial Statements"). The delay in Maxim's filing of the Financial Statements was due to reconciliation issues between Maxim's Trinidadian operations and Canadian GAAP. Maxim does not anticipate having this reconciliation issue in the future.

Subject to the approval of the TSX Venture Exchange, Maxim expects to commence trading shortly on the TSX Venture Exchange under the symbol MXM.

Maxim has no material undisclosed future business plans as of the date hereof.

On behalf of the Board

Arthur Brown, President and Director

Certain information set forth in this press release contains forward-looking statements. By their nature, forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the Company's control, including the impact of general economic conditions, industry conditions, volatility of oil and gas prices, currency fluctuation, competition from other industry participants, the lack of availability of qualified personnel or management, stock market volatility and ability to access sufficient capital from internal and external sources. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Actual results, performance or achievement could differ from those expressed in, or implied by, these forward-looking statements, and accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits will be derived there from. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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.

Contact Information

  • Maxim Resources Inc.
    Arthur Brown
    President
    (604) 630-0280