MAXIMUS VENTURES LTD. ("MXV" BULLETIN TYPE: Shares for BonusesBULLETIN DATE: July 7, 2006TSX Venture Tier 2 Company TSX Venture Exchange has accepted for filing a proposal by MaximusVentures Ltd. (the \'Company\') to issue 500,000 bonus shares to the following Insider: Laurentian Mountain Investment Ltd., wholly owned by David Fennell (\'LMI\'), in consideration of the provision of a loan of $2,000,000. The funds are being provided by LMI with the conditionthat they are used by the Company to exercise 8,000,000 warrants of NFX Gold Inc., a TSX Venture listed company, acquired pursuant to a joint venture agreement accepted by the Exchange effective March 7,2006. For more details, please see the Company\'s news release dated April 21, 2006. The loan is non-interest bearing, but LMI will receive 10% of the proceeds in excess of $2,000,000 received by the Company from the sale of the NFX shares to a maximum of $200,000. TSX-X
The LMI loan was approved by the independent directors of Maximus and is unsecured, does not bear interest and is to be repaid from the first $2-million of proceeds from the sale of NFX shares. The terms of the LMI loan agreement provide for the issuance to LMI of 500,000 common shares of Maximus and the right to a 10-per-cent participation in net proceeds from the sale of NXF shares after repayment of the loan principal, up to a maximum of $200,000. The loan agreement and share issuance are subject to acceptance of the TSX Venture Exchange.
Maximus has also signed an option agreement with Kodiak International Inc., which gives Kodiak a 90-day option to purchase from Maximus in whole or in part, in multiples of 500,000 shares, the eight million shares of NFX at an average price of 72.5 cents per share. If Kodiak exercises its option in full, gross proceeds to Maximus after repayment of the LMI loan principal and LMI 10-per-cent participation will be approximately $3.6-million.
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