Toronto, Ontario – April 7, 2015 – Maxim Resources Inc. (“Maxim” or the “Company”) (TSX V: MXM) is pleased to announce it will hold an annual general and special meeting of the shareholders (the “Meeting”) at Suite 1050, 409 Granville Street, Vancouver, B.C., at 10:00am on Friday, May 22, 2015. The record date for shareholders entitled to vote at the Meeting is April 20, 2015.
In addition to the usual matters to be presented at the Meeting, including the appointment of the auditor, the receiving of the financial statements of the Company for the financial year ended December 31, 2014, and the election of directors, shareholders will be asked to approve the acquisition by the Company of up to a 25% indirect equity ownership interest in an oil and gas exploration and production concession located in the Emirate of Umm Al-Quwain, in the United Arab Emirates, all pursuant to the transactions contemplated by a non-binding heads of agreement between the Company and Quest Oil & Gas Ventures Inc. (“Quest”) dated March 20, 2015 (the “HOA”) and disclosed in the Company’s previously press release dated March 23, 2015. The Corporation will also be seeking disinterested shareholder approval of its proposed restricted share plan.
Pursuant to and upon completion of the transactions contemplated in the HOA, Quest may own more than 20% of the issued and outstanding common shares of the Company and may therefore become a “control person” of Maxim as defined in the policies of the TSX Venture Exchange. Accordingly, at the Meeting shareholders will be asked to approve the creation of Quest as a “control person” of Maxim.
Maxim is an oil and gas production and exploration company based in Vancouver, Canada. The Company is focused on identifying assets that meet the following criteria, producing, near term enhancement and exploration opportunities. Investments may be by way of acquisition, participation and/or fractional interest. Its most recent investment is a Reconnaissance Contract for the Hassi Berkane Block, in the Kingdom of Morocco in partnership with the National Office of Hydrocarbons and Mines.
We encourage any interested parties to visit www.maximresources.com and hit the Register for News tab at the top of the page.
Issued on behalf of the Board of Directors of Maxim Resources Inc.
Arthur Brown, Chairman of the Board
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes statements regarding, among other things, the completion transactions completed in the HOA, including the acquisition by the Company in an interest in Quest. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, regulatory approval processes. Although Maxim believes that the assumptions used in preparing the forward-looking information in this news release are reasonable, including that all necessary regulatory approvals will be obtained in a timely manner, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Maxim disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable securities laws.