Maxim Resources Inc. (TSXV:MXM) announced a non-brokered private placement of up to 20,000,000 units at CAD 0.125 per unit for gross proceeds of up to CAD 2,500,000 on November 20, 2014. Each unit will consist of one common share and one share purchase warrant. Each warrant entitles the holder to purchase a common share at an exercise price of CAD 0.18 per share for a period of two years from the date of issuance. The transaction is expected to close on or before December 4, 2014. The securities issued will be subject to four-months and one day hold period from the date of closing. The transaction is subject to TSXV approval and applicable regulatory authorities.

On December 4, 2014, the company announced that the transaction is expected to close on or before December 15, 2014.