On October 11th, 2018, Maritime Resources announced a non-brokered private placement of up to $3,500,000.
A Maritime news release stated after completion of the financing the company plans “to further build out and enhance the existing team of professionals that will assist with the ongoing development and restart of the Hammerdown Gold Mine and the Company.”
The financing effort is anticipated to close on or before October 31, 2018.
Maritime stated its net proceeds from the financing will be used “to advance the Company’s 100% owned Green Bay gold projects”. The company is looking at more drilling on its Hammerdown and Whisker projects, both located near King’s Point.
There are also plans to dewater the underground workings of Hammerdown gold mine, and to continue “the permitting at Hammerdown in order to register a final EA permit with the Newfoundland Government”.
Maritime Resources also recently finalized an agreement to take over additional land in Green Bay, from Inomin Mines.
[TOP IMAGE is the entrance of Hammerdown Mine — Maritime Resources image, taken from past news release]
Read more on greenbayfeed.com ~