private placement
2007-10-24 16:29 ET - News Release
Mr. Francois Viens reports
MAXIMUS CLOSES PRIVATE PLACEMENT TO RAISE A TOTAL OF $3.2 MILLION
Maximus Ventures Ltd. has closed a private placement of 10,666,666 units at a price of 30 cents per unit for gross proceeds of $3.2-million of which 9,730,000 units were brokered and 936,666 units were non-brokered today, further to its news release written in Stockwatch on Sept. 19, 2007. This private placement represents an increase of 666,666 units from the amount set out in the company's news release written in Stockwatch on Sept. 19, 2007, for additional gross proceeds of $200,000. Each unit issued consists of one common share and one transferable common share purchase warrant, with each warrant entitling the holder to acquire an additional common share of the company at a price of 40 cents per share until April 24, 2009, subject to the right of the company to accelerate, on or after Feb. 25, 2008, the expiry date of the warrants where the closing price of the company's common shares is 40 cents or greater for a period of 30 consecutive trading days.
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