Maxim Resources Inc.

Maxim Resources Inc.

January 15, 2015 14:59 ET

Maxim Appoints New President, CEO and Director

TORONTO, ONTARIO--(Marketwired - Jan. 15, 2015) - Maxim Resources Inc. ("Maxim" or the "Company") (TSX VENTURE:MXM)(OTCBB:MXMSF)(FRANKFURT:M5HA) is pleased to announce the appointment of Mr. Cyrus Driver to the board of directors of the Company (the "Board") as a director, filling the vacancy on the Board created by the resignation of Mr. Neil Dinsdale who has resigned from the Board effective today. Maxim is also pleased to announce the appointment of Mr. Andrew Male as President and Chief Executive Officer ("CEO") of the Company, replacing Mr. Arthur Brown who has resigned from the position as President and CEO of the Company effective today. Mr. Male will continue to serve of the Board and Mr. Brown will retain his role as Chairman of the Board.

Mr. Driver has served as the Company's Chief Financial Officer for the past 10 years. His involvement with Maxim has been instrumental in governing and guiding the Company. Mr. Driver is a chartered accountant with over 30 years of public market and accounting experience and was a founding partner in the firm of Driver Anderson upon its inception in 1981. He has been a partner in the firm of Davidson and Company LLP after merging with Driver Anderson in 2002. Mr. Driver specializes in servicing TSX and TSX Venture Exchange ("TSXV") listed companies and members of the brokerage community. His wide knowledge of the securities industry and its rules have enabled him to give valuable advice to clients within the industry with respect to finance, taxation and other accounting related matters. Mr. Driver currently serves as a director and/or executive of several publicly listed companies.

Mr. Andrew Male has served as a director of Maxim since January 2011. Mr. Male has served as a director or officer of a number of TSXV-listed companies and recently also served as the president, CEO and director of a TSXV mining issuer. During his tenure, Mr. Male pivoted this company to a new mineral focus, completed a mining claim acquisition package, raised $6.0-million in private placements, commenced mining operations, secured a multimillion-dollar joint venture partner and the acquisition of adjacent producing mines. This company was also listed as a TSXV top-50 issuer. Mr. Male has also acted as an acquisition adviser to European-listed issuers, as well as providing finance and management consulting services for numerous other listed and private issuers.

Art Brown, Chairman said, "I am pleased to welcome Cyrus Driver to the Board, and wish to thank Neil Dinsdale for his assistance over the past years. Cyrus will undoubtedly be a governing force as a director and we look forward to his contributions. Andrew Male and I have been working closely over the past 4 years and Andrew was instrumental in managing and securing the Company's recent litigation settlement in Trinidad. His finance, mergers and acquisition knowledge will be a valuable asset going forward and I look forward to continuing to work with him. These changes are key in the next stage of development for Maxim and our transition to a dual-listing on the AIM Exchange in London. We look forward to developing our opportunities in Morocco and future strong growth."

About Maxim

Maxim is an oil and gas production and exploration company based in Vancouver, Canada. The Company is focused on identifying assets that meet the following criteria, producing, near term enhancement and exploration opportunities. Investments may be by way of acquisition, participation and/or fractional interest. Its most recent investment is a Reconnaissance Contract for the Hassi Berkane Block, in the Kingdom of Morocco ("Morocco) in partnership with the National Office of Hydrocarbons and Mines ("ONHYM")".

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Issued on behalf of the Board of Directors of Maxim Resources Inc.

Arthur Brown, Chairman of the Board of Directors

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. This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, is forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the company's disclosure documents on the SEDAR website at The company does not undertake to update any forward-looking information except in accordance with applicable securities laws.

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