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Maxim Resources (TSXV: MXM) is becoming an active player in the United Arab Emirates

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Maxim Resources, symbol MXM on the TSX Venture Exchange (Frankfurt:M5HA) (OTCBB:MXMSF) is becoming an active player in the United Arab Emirates, through an agreement with Quest Investments LLC, with Quest Investments becoming a controlling shareholder in Maxim.

Additional Information:

Company: Maxim Resources
Website: http://www.maximresources.com/
Stock Symbol: TSXV: MXM
Date Published: Jun 2, 2015
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for Investmentpitch Media

Maxim Resources, symbol MXM on the TSX Venture Exchange (Frankfurt:M5HA) (OTCBB:MXMSF) is becoming an active player in the United Arab Emirates, through an agreement with Quest Investments LLC, with Quest Investments becoming a controlling shareholder in Maxim.

In return, Maxim will acquire up to a 50% equity interest in Quest Oil & Gas Ventures, a wholly-owned subsidiary of Quest Investments.

This will provide Maxim with a minimum of 17.5% indirect equity ownership interest in an onshore 747 square kilometre oil and gas exploration and production concession in the United Arab Emirates.

The concession is located in a prospective area for oil and gas, and is on trend with significant producing fields in the adjacent Emirates and in the neighbouring Sultanate of Oman.

Under the terms of the agreement, Maxim will pay Quest up to US$7.5 million through the payment of up to US$3,750,000 in cash and US$3,750,000 in shares of Maxim, over 3 stages.

The shares will be at a price equal to a private placement which Maxim intends to complete by June 30, 2015, concurrent with its proposed secondary listing on the AIM in London.

Andrew Male, CEO, stated: “The signing of the SPA sets the stage for the completion of our financing and secondary listing on the AIM market in London. Partnering with Quest and the other strategic stakeholders in the Concession in the UAE will enable Maxim to become a uniquely positioned Canadian public company which provides investors in the capital markets with access to emerging oil and gas opportunities in the Middle East and North Africa (MENA).”

The concession is under-explored and will benefit from modern seismic acquisition and interpretation technology over the fold and thrust belt complex that covers much of the territory.

The company’s initial program, as confirmed in a NI 51-101 Technical Report, included the re-processing and re-interpretation of up to 500 kilometres of the better quality 2D and all of the 250 square kilometres of existing 3D seismic data.

Based on this, and other work which has been completed, prospects have been identified, and an exploration well will be drilled before April 2016.

Maxim currently has a 100% interest in an oil & gas license in Morocco, which covers 5,116 square kilometres

Incoming Quest director, Ian Baron stated: “The acquisition of its substantial shareholding in Maxim will be a strategic move for Quest which we intend to leverage in order to expand our oil and gas business in the MENA region. In particular, Quest's regional networks provide early access to new opportunities, which we can now take greater advantage of with Maxim's public listing and access to the international capital markets. We believe this partnership with Maxim is synergistic whereby our combined strengths and expertise will benefit both parties significantly.”

Maxim is trading at $0.10, and with 43 million shares outstanding, is capitalized at $4.3 million.

For more information about Maxim, including the full details of this agreement, please visit the company’s website www.maximresources.com, contact investor relations at 604-630-0280 or email info@maximresources.com.

I’m Samantha Deutscher for Investmentpitch Media
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This video is for information purposes only and it not a recommendation to buy or sell any securities.