Maritime Resources Corp. announced a a non-brokered private placement of up to 75,000,000 units at a price of CAD 0.04 per unit for aggregate gross proceeds of up to CAD 3,000,000 on July 27, 2023. Each unit is composed of one common share of the company and one common share purchase warrant.

Each unit warrant will entitle the holder thereof to acquire one common share at a price of CAD 0.07 per warrant share for 36 months. All securities issued are subject to a hold period of four months plus a day from the date of issuance. The company may pay certain finders a cash finder's fee equal to 6% of the gross proceeds, which cash commission may be satisfied by the company, upon the election of the finders, by issuing common shares at a deemed price of CAD 0.04 per share.

The finders will receive that number of common share purchase warrants equal to 6% of the units sold pursuant to the transaction, with each finder warrant entitling the holder to acquire one common share of the company at the exercise price per finder warrant share for a period of 36 months following the completion of transaction.