Vancouver, British Columbia (FSCwire) - Maxtech Ventures Inc. (CSE: MVT) (Frankfurt: M1N) (OTC: MTEHF), (“Maxtech” or the “Company”) is pleased to announce that after a site visit, it is moving forward with further research on a potential asset located in the state of Goias, Brazil due to positive indications of potential manganese deposits.
Maxtech in conjunction with Maringá Ferro-Liga, is planning to return to the Raimunda, Cavalcante claim in northern Goias for further due diligence. The Company signed a letter of interest on the existing mining operation as previously released on September 12th 2017. Initial results of the visit were positive and warrant further research activities. The exploration team from Maringá indicated that there was manganese mineralization visible in sieved stockpiles and they recommended further fieldwork to ascertain the potential resource of the site.
Peter Wilson, CEO of Maxtech said “Although the rainy season has begun in Brazil, it is a good time to expand research on new manganese claims and potential acquisitions. We are committed to make Brazil our base in South America while teaming up with Maringá. We are fortunate to have such an engaged and experienced strategic partner who we hope to be our key off-take partner both in Brazil and throughout the South American region.”
Additionally, Maxtech Ventures Inc. announces that it is undertaking a non-brokered private placement of up to $2,000,000 by the issuance of units priced at $.30 per unit, each unit being comprised of one common share in the capital of the Company and one share purchase warrant (a “Warrant”). Each Warrant will entitle the holder to purchase one additional common share for a period of one year at an exercise price of $.40 per share. The Warrants will be subject to an accelerated expiration period in the event the Company’s shares trade on a recognized exchange at more than $.60 for a 14 day period, which will include days where no shares trade, after a period that is four months and a day from the issuance of the Warrants.
The Company has issued 3,000,000 million options at $.30 per share to certain officers, directors and consultants, pursuant to the Company’s stock option plan.
About Grupo Maringá
Founded in 1946, Grupo Maringá now has over 2,000 employees with over USD $200 million in 2016 revenues. The Maringá companies are located in the states of Paraná and São Paulo. They produce sugar cane, sugar, ethanol, energy and manganese alloy. Maringá Ferro-Liga S.A. is a subsidiary of Grupo Maringá and is located in Itapeva, State of São Paulo. It is the second largest manganese ferroalloy producer in South America, producing high quality silico-manganese and high-carbon ferromanganese.
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.
