Vancouver, British Columbia -- Maximus Ventures Ltd. (the "Company" announces that it has entered into an agreement with Quest Securities Corporation ("Quest" and Dundee Securities Corporation ("Dundee" pursuant to which Quest and Dundee will act as the Company\'s agents to place up to 5,000,000 units of the Company at $0.40 per unit and up to 4,500,000 flow-through common shares of the Company at $0.50 per share. The units will consist of one common share and a one-half of one share purchase warrant, with one whole warrant entitling the holder to purchase an additional common share of the Company at a price of $0.60 per share for a period of 18 months from closing. If the trading price of the Company\'s shares closes at or above $0.80 per share for 20 consecutive trading days, then the Company will have the right to provide written notice to the warrant holders to exercise all unexercised warrants within thirty days or the warrants will be cancelled. The Company will receive gross proceeds of up to $4,250,000 from the private placement.
Quest and Dundee will receive a cash commission equal to 6% of the gross proceeds from the sale of units and agent\'s warrants equal to 6% of the total of both flow-through shares and units sold under the placement, each warrant entitling the holder to purchase one common share of the Company at a price of $0.45 per share for a period of 18 months. Proceeds from sale of the units will be used by the Company for general working capital purposes. Proceeds from the sale of flow-through shares will be used for exploration at the Company\'s gold projects near Larder Lake in eastern Ontario and at Hope Bay in Nunavut.
The placement is subject to approval of the TSX Venture Exchange.
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