Canadian Mining Journal

News

Maritime offers streaming royalty to investors



Maritime Resources (TSXV: MAE) has gotten inventive with its financings to help advance its 100%-held Green Bay gold property in Newfoundland and Labrador. The junior has offered a streaming royalty as part of its equity raises, where investors will receive their investment back once production starts.

“We came up with the idea, let’s say mid-2015, as an incentive to our shareholders that are participating in the funding that is going to get us up and going. It was very tough to raise money. So, it was a creative way to incentivize the new coming shareholders to invest in the company,” Doug Fulcher, Maritime’s president and CEO, says.

Maritime first implemented the idea in a non-brokered private placement last November. It closed a portion of that financing this February, and offered the royalty again in a financing in April. In total, it raised $985,500 in those two equity raises.

While investor sentiment has improved with the higher commodity prices this year, Maritime has continued to sweeten its financings.

Read the entire story at www.NorthernMiner.com/news/maritime-gets-creative