09:55 AM EST - Makenita Resources Inc. : Announced it has more than doubled its Serpentinization Iron-Magnetite Project in Saskatchewan, growing the contiguous land package from 51,304 acres to a district-sized 116,149 acres. The project directly borders Max Power Corp (CSE: MAXX) and is prospective for iron and magnetite. Management is currently formulating plans to commence work as soon as possible. Jason Gigliotti, President of Makenita Resources, commented: "Makenita is in a significant period of corporate growth. We have just added substantial acreage, making our land package in Saskatchewan — directly bordering Max Power Corp (CSE: MAXX) — district size at 116,149 contiguous acres. MAXX recently completed a financing with Eric Sprott, who now owns approximately 19 percent of MAXX1, showing the strong institutional investment appetite for this region. The project offers strong prospectivity for iron and magnetite, and in certain situations where large iron formations are rich in magnetite, that formation can be stimulated to produce naturally occurring hydrogen. Makenita is entering the most active period of growth in the Company's history, and we have just added additional marketing to assist in getting the story out to a larger audience. Makenita has just over 35 million shares outstanding, so any success in the ground could have an outsized impact on the Company. Management is very optimistic about the short- and long-term objectives and goals of Makenita, and we plan to work as hard as possible for our shareholders." Makenita Resources Inc.
shares C.KENY are trading up 1 cent at $0.20.
Full Press Release: https://www.baystreet.ca/quotedata/quote.aspx?ticker=KENY%3ACNX&qmodStoryID=8385990947095180
