Vancouver, British Columbia (January 15, 2020): Maxtech Ventures Inc. (“Maxtech” or the “Company” (CSE: MVT) (Frankfurt: M1N) (OTC: MTEHF) is pleased to announce that it has entered into an agreement to acquire a strategic land package in the James Bay Region of Quebec.
This property is in the same greenstone belt as the recent Azimut Exploration Elmer property discovery and is east and directly adjacent to the AZM land package with a potential 12 kilometer strike length. Additionally, the property is directly north and adjacent to the Dios Exploration Kali Project in the prolific mining district of James Bay, Quebec.
Azimut’s management considers their recent drill results marks among the most significant gold exploration results in the James Bay region since the 2004 discovery of the Eleonore deposit by Virginia Gold Mines. The Eleonore mine is currently owned and operated by Newmont Goldcorp. (See AZM.V News release Jan 14, 2020)
Maxtech will own a 100% interest in the Property by issuing 2,000,000 common units consisting of common shares and share purchase warrants exercisable at 20 cents, and paying $10,000 on the date of approval. There is no NSR to the vendor. The Acquisition Agreement is subject to the approval of the Canadian Securities Exchange and the Company agrees to use its reasonable best efforts in obtaining approval and finish its due diligence on the property within 30 days of signing the agreement.
“Given the exciting results from both the Dios Exploration’s Kali Project and Azimut’s Elmer Property and our proximity to these promising gold zones, we will complete due diligence and sign off on a definitive agreement as soon as possible. Adding a new gold exploration project in Quebec this winter in this exciting new prospective area will give us added momentum in building our gold exploration portfolio.” Stated Peter Wilson, CEO, Maxtech Ventures Inc.
The Company also announces that management incentive stock options have been granted to officers, directors, and consultants of the Company to purchase up to an aggregate 4,200,000 common shares of the Company, pursuant to the terms of the Company’s stock option plan. The stock options are exercisable at a price of $0.12 per share over a two (2) year period with no vesting terms.
About Maxtech Ventures Inc.
Maxtech Ventures Inc., a Canadian-based diversified industries corporation, is focused on identifying and advancing high-value mineral properties.
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. In particular, 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 as a result 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.