Ann: Non-Renounceable Rights Issue and Placement-MXR.AX, page-3

No surprise given cash balance - details below.

Maximus Resources Ltd (ASX:MXR) (Company) is pleased to announce that it will be undertaking a non-renounceable rights issue (Rights Issue) to raise approximately $1.61 million (before costs) through an offer of up to a maximum of 537,762,999 ordinary fully paid shares (New Shares). In addition, the Company completed a Placement to Sophistictaed Investors with the issue of 70 million ordinary shares for $210,000
at 0.3c