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.

On December 29, 2014, Maxim Resources Inc. closed the transaction. The company has issued 4,678,000 units for gross proceeds of CAD 584,750. Each warrant will expire on December 29, 2016. In connection with the transaction, the company paid an aggregate amount of CAD 11,440 in cash finder's fees to a certain eligible arm's length person and issued 10,000 non-transferable finder's warrants to an eligible arm's length finder. Each finder's warrant is exercisable into a unit at an exercise price of CAD 0.125 per unit for a period of 24 months from the closing. The transaction is subject to TSX Venture Exchange acceptance of requisite regulatory filings. The company announced that TSX Venture Exchange has accepted filing documentation with respect to the transaction. The transaction included participation from 15 places. PI Financial Corp. and James Cromwell acted as finders in the transaction.