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Maxim Resources Inc. (TSX-V: MXM) Closes Second Tranche of Financing; Raises $3.46 Million in Total

July 10, 2008

Maxim Resources Inc (TSX-V: MXM)
Shares Issued 51,158,066
Recent Price: $0.21 

The TSX Venture Exchange has accepted for filing documentation with respect to the second and final tranche of a non-brokered private placement announced May 12, 2008.

Number of shares:  13,018,234

Purchase price:  18 cents per share

Warrants:  13,018,234 share purchase warrants to purchase 13,018,234 shares

Warrant exercise price:  25 cents for a one-year period

Hidden placees:  91

Pro group participation:  Jason Baibokas, 100,000; Daniel Boase, 150,000; Scott Carscadden, 28,000; Delphi Admin Inc. (Andrew Rudensky), 25,000; John DiGirolamo, 50,000; James Doyle, 50,000; First Canadian Capital Markets Ltd., 100,000; Darcy Higgs, 650,000; Sam Isenberg, 55,500; Steve Isenberg, 55,500; Ivan Jacobsen, 131,000; Nazeem Karolia, 25,000; Riley Keast, 28,000; Ian Kennedy, 28,000; Ron Kimel, 166,600; Juhan Laur, 41,500; Jeffrey Leung, 30,000; Michael Mansfield, 150,000; Jason Monaco, 100,000; James Oleynick, 100,000; Sharon Philbrick and Michael Philbrick, 50,000; Mark Ramage, 25,000; Caterina Reina, 50,000; Andrew Rudensky, 25,000; Wally Rudensky, 28,000; Steve Sandusky, 28,000; David Shemilt, 200,000

Insider participation:  Art Brown,  800,000, Cyrus Driver, 400,000;

Finders' fees: $101,059 cash and 561,437 finders' warrants exercisable into units at 18 cents payable to First Canadian Capital Markets Ltd.; $13,400 cash payable to Canaccord Capital Corporation; $15,000 cash payable to Dominick & Dominick;  $3,600 cash payable to Tom Gemmell; $13,500 cash payable to Haywood Securities Inc.; $3,333 cash and 100,000 units payable to Peter Hold; $13,320 cash payable to Ray Longstaff; $8,370 cash payable to John Moscone; $1,800 cash payable to PI Financial Corp.; $10,000 cash payable to Vicarage Capital Limited

© 2008 Canjex Publishing Ltd.

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