Maxtech’s Manganese Exploration Advances into Africa
November 16, 2017 (Source) — New Strategic Partnerships In Europe
Maxtech Ventures Inc. (CSE: MVT) (Frankfurt: M1N) (OTC: MTEHF), (“Maxtech” or the “Company”) is pleased to announce that the Company has begun extensive due diligence on Mn exploration permits in Morocco.
Morocco is the third largest producer of phosphate containing about 75% of the world’s combined estimated reserves. Foreign investors have found the investment climate, infrastructure, fiscal situation, and political stability very favourable to the mining business.
In conjunction with Maxtech’s strategic development partners, the Company is currently preparing applications for permits to explore potential high grade manganese deposits in Morocco. The Company is actively evaluating several advanced stage manganese assets in Morocco with an emphasis on fully permitted mining concessions with established histories of manganese production. In addition, Maxtech is seeking further global off-take partners to complete a vertical manganese operation platform in the region.
Peter Wilson, CEO of Maxtech states: “These permit applications are the next step in accelerating both our short and longterm goals to expand our search for worldwide Manganese assets. Morocco is again a safe and emerging mining jurisdiction where we are able to acquire potential manganese deposits on a district scale level, just across the sea from massive European demand which will be an excellent near term benefit for all shareholders and stakeholders.”
In support of this new venture, Maxtech has engaged Westmount Capital based in Geneva, Switzerland, to assist the group in developing a European capital markets strategy, www.westmountcapital.com. The purpose of their mandate is to provide access to European strategic partners and generate interest for the proposed development of the Moroccan manganese operations. Maxtech appoints Westmount as a non-exclusive agent for its placement, and the success fees will be equivalent to 8%, 4% in cash and 4% in shares of the investments gross amounts received by Maxtech. Under the terms of the agreement Maxtech will compensate Westmount approximately $30,000 Canadian dollars total remuneration for an initial term of 6 months by issuing to Westmount common shares upon consideration being received by Maxtech from Westmount. The shares will be payable in two tranches in arrears in common shares at an issue price to be based on the closing price of the shares on the day the agreement was signed.
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About Maxtech Ventures Inc.
Maxtech Ventures Inc. is a Canadian based diversified industries corporation with gold and manganese mineral properties. Its focus is on mining and the products that are derived therefrom.
Further information about the Company is available on www.SEDAR.com under the Company’s profile.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
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. 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 because 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.
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