VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 27, 2017) - Maxtech Ventures Inc. (CSE:MVT)(OTC PINK:MTEHF)(FRANKFURT:M1N) ("Maxtech" or the "Company"), announces that it has closed the first tranche of a non-brokered private placement of up to $1,000,000. The Company will issue 2,612,500 units for an aggregate total of $522,500. Each unit is offered at $0.20 per Unit and is comprised of one common share in the capital of the Company and one share purchase warrant (a "Warrant"). Each warrant entitles the holder to purchase one additional common share for a period of two years at an exercise price of $0.30 per share for the first year and at an exercise price of $0.40 thereafter, the warrants are also subject to an accelerated expiration period in the event the Company's shares trade on a recognized exchange at more than $0.40 for a 14 day period, which can include days where no shares trade after a period that is four months and a day from the issuance of the warrants.
The securities issued are subject to a four month and one day trading restriction to May 28, 2017. The proceeds raised will be used for working capital and to further the Company's plans to acquire manganese exploration properties worldwide.
About MaxtechVentures Inc.
Maxtech Ventures Inc. is a Canadian based diversified industries corporation. Its goal is to become a force in the Green Energy Revolution through the development and acquisition of mining properties.
For additional information see the Company's web site at http://www.maxtechventures.com/
Certain statements contained in this release may constitute "forward-looking statements" or "forward-looking information" (collectively "forward-looking information") as those terms are used in the Private Securities Litigation Reform Act of 1995 and similar Canadian laws. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated", "anticipates" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the business of the Company, the Property, financing and certain corporate changes. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
Further information about the Company is available on www.SEDAR.com under the Company's profile.