Junior Mining Network
CSE: MVT
www.maxtech-ventures.com
Mr. Peter Wilson reports :
Maxtech’s Manganese Exploration Advances into Africa.
Maxtech Ventures Inc. (CSE: MVT) (Frankfurt: M1N) (OTC: MTEHF), (“Maxtech” or the “Company”) is pleased to announce that the Company has begun extensive due diligence on Mn exploration permits in Morocco.
Morocco is the third largest producer of phosphate containing about 75% of the world’s combined estimated reserves. Foreign investors have found the investment climate, infrastructure, fiscal situation, and political stability very favourable to the mining business.
In conjunction with Maxtech’s strategic development partners, the Company is currently preparing applications for permits to explore potential high grade manganese deposits in Morocco. The Company is actively evaluating several advanced stage manganese assets in Morocco with an emphasis on fully permitted mining concessions with established histories of manganese production. In addition, Maxtech is seeking further global off-take partners to complete a vertical manganese operation platform in the region.
Peter Wilson, CEO of Maxtech states: “These permit applications are the next step in accelerating both our short and longterm goals to expand our search for worldwide Manganese assets. Morocco is again a safe and emerging mining jurisdiction where we are able to acquire potential manganese deposits on a district scale level, just across the sea from massive European demand which will be an excellent near term benefit for all shareholders and stakeholders.”
In support of this new venture, Maxtech has engaged Westmount Capital based in Geneva, Switzerland, to assist the group in developing a European capital markets strategy, www.westmountcapital.com. The purpose of their mandate is to provide access to European strategic partners and generate interest for the proposed development of the Moroccan manganese operations. Maxtech appoints Westmount as a non-exclusive agent for its placement, and the success fees will be equivalent to 8%, 4% in cash and 4% in shares of the investments gross amounts received by Maxtech.
Under the terms of the agreement Maxtech will compensate Westmount approximately $30,000 Canadian dollars total remuneration for an initial term of 6 months by issuing to Westmount common shares upon consideration being received by Maxtech from Westmount. The shares will be payable in two tranches in arrears in common shares at an issue price to be based on the closing price of the shares on the day the agreement was signed.
About Maxtech Ventures Inc.
Maxtech Ventures Inc. is a Canadian based diversified industries corporation with gold and manganese mineral properties. Its focus is on mining and the products that are derived therefrom.
