Maxim Resources Inc. seeks acquisitions. Maxim Resources Inc. has entered into a non-binding heads of agreement with Leni Gas & Oil PLC (LGO) to jointly pursue oil field development opportunities in Trinidad and Tobago. LGO shall make an initial, refundable payment to Maxim of CAD 75,000 and will pay further payments up to CAD 2,425,000 in cash or freely-tradeable ordinary shares of LGO on and after closing of the transaction and the achievement by Maxim of certain performance objectives, in exchange for the issuance by Maxim to LGO of up to 30 million shares of Maxim at a price of CAD 0.08333 per share, representing a maximum of approximately 49% of Maxim upon completion of the transaction.

Maxim Resources will use the proceeds to fund Maxim's litigation with Jasmin Oil and Gas Limited with respect to Maxim's Net Revenue Interest in exploration and production of Jasmin within the South Erin Block, for general working capital and the settlement of outstanding debts as well as future acquisitions.