{"id":1108985,"date":"2019-04-03T16:26:51","date_gmt":"2019-04-03T16:26:51","guid":{"rendered":"http:\/\/resourceworld.com\/?p=55275"},"modified":"2019-04-03T16:26:51","modified_gmt":"2019-04-03T16:26:51","slug":"max-resource-and-noble-receive-approval-for-the-transaction","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1108985","title":{"rendered":"Max Resource and Noble Receive Approval for the Transaction"},"content":{"rendered":"<p><strong><a href=\"http:\/\/resourceworld.com\/wp-content\/uploads\/2019\/02\/max-resource-corp-1.jpg\"><img decoding=\"async\" loading=\"lazy\" class=\"alignleft size-medium wp-image-54972\" src=\"http:\/\/resourceworld.com\/wp-content\/uploads\/2019\/02\/max-resource-corp-1-300x193.jpg\" alt=\"\" width=\"300\" height=\"193\" srcset=\"http:\/\/resourceworld.com\/wp-content\/uploads\/2019\/02\/max-resource-corp-1-300x193.jpg 300w, http:\/\/resourceworld.com\/wp-content\/uploads\/2019\/02\/max-resource-corp-1-768x495.jpg 768w, http:\/\/resourceworld.com\/wp-content\/uploads\/2019\/02\/max-resource-corp-1.jpg 777w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/a>Max Resource Corp. [TSX.V: MXR; OTC: MXROF; Frankfurt: M1D1]<\/strong> is pleased to report that, at the Special Meeting of Shareholders held on April 2, 2019, shareholders adopted a special resolution approving the transaction with Noble Metals Limited (<strong>\u201cNoble\u201d<\/strong>) and its wholly-owned subsidiary Condoto Platinum Limited (<strong>\u201cCondoto\u201d<\/strong>) (the \u201c<strong>Transaction<\/strong>\u201d).\u00a0 \u00a0The Company has also received approval from the Board of Noble for the execution of the Transaction.<\/p>\n<p>Transaction highlights include:<\/p>\n<ul>\n<li>The acquisition by MAX of 100% rights to mineral claims and mineral applications held by Noble and, more importantly, the \u201cNovita Agreement\u201d, an exclusive right of first refusal to the mineral rights and mining rights over 1,050 sq. km held by the Novita Higher Community Council as sole owners of the land and minerals.<\/li>\n<li>The Novita Agreement area encompasses or is adjacent to the Company\u2019s Choco Precious Metals Project, which covers an area of 1,757 sq. km, located 100 km SW of Medellin, Colombia.<\/li>\n<li>Established infrastructure, including a fully operation 30-man exploration camp at the town of Novita.<\/li>\n<li>The Choco Precious Metals Project covers or is adjacent to historic surface production of 1.5Mozs of gold and 1.0Mozs of platinum by Compania Minera del Choco Pacifico between 1906 and 1990. <em>(Source: R.J. Fletcher and Associates (2011) Review of Gold and Platinum Exploration and Production in Choco Province Colombia Part 3. Private Report for Condoto Platinum Ltd).<\/em><\/li>\n<\/ul>\n<p>The Company advises that mineralization hosted on adjacent properties is not necessarily indicative of mineralization hosted on the Company&#8217;s Choco Precious Metals Project.<\/p>\n<p>Brett Matich, Max&#8217;s President and Chief Executive Officer, commented: &#8220;Shareholder approval of the Noble Transaction represents a major milestone for the Company. This transaction secures a major ground position in a world class precious metals province.\u201d<\/p>\n<p><strong><u>The Transaction<\/u><\/strong><\/p>\n<p>The Transaction is described in a definitive asset purchase agreement (the <strong>\u201cTransaction Agreement\u201d<\/strong>) dated effective February 8, 2019, pursuant to which the Company has agreed to purchase a bundle of resource exploration assets located in the Choco Department of Colombia between Noble, Condoto, a local Colombian branch of Condoto (known as a <strong>\u201cSucursal\u201d<\/strong>) and the Novita Higher Community Council.\u00a0 In consideration for these assets, MAX has agreed to pay the sum of C$500,000 and to issue to Noble 26,665,896 MAX common shares (the <strong>\u201cAcquisition Shares\u201d<\/strong>).<\/p>\n<p>At the Special Meeting, the Company\u2019s shareholders adopted an additional special resolution to approve Noble as a \u2018Control Person\u2019 of the Company as that term is defined in the policies of the TSX Venture Exchange.\u00a0 The Company anticipates that Noble will become a Control Person when the Acquisition Shares are issued upon the completion of the Transaction because, at closing, Noble will hold 29.2% of the issued and outstanding shares of the Company. \u00a0\u00a0The Transaction remains subject to conditions within the Transaction Agreement and the TSX Venture Exchange conditional approval letter.<\/p>\n<p><strong><u>About Max Resource Corp.<\/u><\/strong><\/p>\n<p>MAX Resource Corp. is a mineral exploration company focused on the development of prospective projects in the rich mineral belts of Colombia. The Company has established significant exploration infrastructure and local community support for two very large prospective Colombian projects: the Choco Precious Metals Project, located 100 kms south of Medellin, which covers or is adjacent to historic production of 1.5Mozs gold and 1.0Mozs platinum and the Gachala Copper Project, located 60 kms east of Bogota.<\/p>\n<p>The Company is led by a seasoned management team with a track record of significant discovery and exploration success.<\/p>\n<p><strong>ON BEHALF OF THE BOARD OF MAX RESOURCE CORP.<\/strong><\/p>\n<p>\u201cBrett Matich\u201d<\/p>\n<p>Brett Matich, CEO and President<\/p>\n<p>For further information, please visit the Company\u2019s website at <a href=\"http:\/\/www.maxresource.com\/\">www.maxresource.com<\/a><\/p>\n<p>or the Company\u2019s profile at <a href=\"http:\/\/www.sedar.com\/\">www.SEDAR.com<\/a><\/p>\n<p>If you would like to be added to Max Resources\u2019 news distribution list, please send your email address to <a href=\"mailto:info@maxresources.com\">info@maxresources.com<\/a><\/p>\n<p><strong>For more information contact:<\/strong><\/p>\n<p>Brett Matich, CEO and President Tel: (+1) 604 365-1522<\/p>\n<p><a href=\"mailto:info@maxresource.com\">info@maxresource.com<\/a><\/p>\n<p>&nbsp;<\/p>\n<p>Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.<\/p>\n<p>This news release includes certain statements that may be deemed as \u201cforward-looking statements\u201d within the meaning of applicable Canadian securities laws.\u00a0 All statements in this release, other than statements of historical facts, are forward-looking statements, including, without limitation, statements pertaining to completion of the Transaction and any approvals required in connection with the Acquisition.\u00a0 Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guaranteeing of future performance and actual results or developments may differ materially from those in forward-looking statements.\u00a0 Factors that could cause actual results to differ materially from those in the forward-looking statements include:\u00a0 changes in market conditions, unsuccessful exploration results, changes in the price of commodities (particularly copper), unanticipated changes in key management personnel and general social, economic or geo-political conditions.\u00a0 Mining exploration and development is an inherently risky business.\u00a0 Accordingly, the actual events may differ materially from those projected in the forward-looking statements.\u00a0 This list is not exhaustive of the factors that may affect any of the Company\u2019s forward-looking statements.\u00a0 These and other factors should be considered carefully and readers should not place undue reliance on the Company\u2019s forward-looking statements.\u00a0 The Company does not undertake to update any forward\u2013looking statement that may be from time to time by the Company or on its behalf, except in accordance with applicable securities laws. We seek safe harbor.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Max Resource Corp. [TSX.V: MXR; OTC: MXROF; Frankfurt: M1D1] is pleased to report that, at the Special Meeting of Shareholders held on April 2, 2019, shareholders adopted a special resolution&#8230; <span><a href=\"http:\/\/resourceworld.com\/index.php\/max-resource-and-noble-receive-approval-for-the-transaction\/\">Read more &raquo;<\/a><\/span><\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[391,622],"tags":[48],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1108985"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1108985"}],"version-history":[{"count":1,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1108985\/revisions"}],"predecessor-version":[{"id":1108986,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1108985\/revisions\/1108986"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1108985"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1108985"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1108985"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}