Maritime Resources Corp.’s $8.7 Million Offering


Fasken advised Sprott, on behalf of a syndicate of underwriters. Aird & Berlis assisted Maritime Resources.

On August 21, 2020, Maritime Resources Corp. (TSXV: MAE) announced the completion of a $8.7 Million offering led by Sprott Capital Partners LP. Pursuant to the offering, (i) 43,367,550 common shares were issued at an offer price of $0.15 per Common Share and (ii) 11,000,000 common shares issued on a flow-through basis at an offer price of $0.20 per FT Share.

The net proceeds of the offering will be used by Maritime Resources to facilitate the continued optimization and de-risking of the Hammerdown Gold Project in Newfoundland and Labrador, as well as allow for the company to expand its exploration programs at the Hammerdown Gold Project and its Whisker Valley gold exploration project, located within 10 kilometers northwest of the Hammerdown site.

Maritime Resources Corp. is a Canadian gold mining and exploration company.

Sprott Capital Partners was formed in 2017 to provide a comprehensive suite of capital raising and advisory solutions to natural resources companies.

The Fasken team included John Turner (Picture), Gesta Abols, Brad Freelan, Russell Lindzon, Ryan Kleinman, Gurinder Gujral and Mitchell Thaw.

The Aird & Berlis team was led by Jeffrey Merk and included Melanie Cole, Liam Tracey-Raymont, Russell Sanders (Capital Markets), Carol Burns, Barbara Worndl (Tax) and Vernon Lin (Summer Student).

Involved fees earner: Carol Burns – Aird & Berlis LLP; Melanie Cole – Aird & Berlis LLP; Jeffrey Merk – Aird & Berlis LLP; Russell Sanders – Aird & Berlis LLP; Liam Tracey-Raymont – Aird & Berlis LLP; Barbara Worndl – Aird & Berlis LLP; Gesta Abols – Fasken Martineau; Bradley Freelan – Fasken Martineau; Gurinder Gujral – Fasken Martineau; Ryan Kleinman – Fasken Martineau; Russell Lindzon – Fasken Martineau; Mitchell Thaw – Fasken Martineau; John Turner – Fasken Martineau;

Law Firms: Aird & Berlis LLP; Fasken Martineau;

Clients: Maritime Resources Corp.; Sprott Capital Partners;

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Author: Ambrogio Visconti