Maverick Gold and Silver Corp. (CSE: MAV, FSE: VR61, OTC Pink: VRCFF) announced a non-brokered private placement of up to 22,000,000 units at C$0.05 per unit, seeking gross proceeds of up to C$1,100,000.

Each unit consists of one common share and one warrant. Each warrant entitles the holder to purchase one additional common share at C$0.10 for 24 months following the closing date. If the common share price closes at or above C$0.15 on the Canadian Securities Exchange for 10 consecutive trading days, the company may accelerate the warrant expiry to 30 days after written notice is issued.

All securities issued will be subject to a statutory hold period of four months plus one day from issuance. The offering may close in one or more tranches and is subject to CSE approval.

The company may pay finders a cash commission of 6% of gross proceeds raised from introduced subscribers, along with non-transferable finder warrants equal to 6% of units sold to those subscribers. Finder warrants will carry the same C$0.10 exercise price and 24-month term as the offering warrants.

Proceeds are intended for working capital and general corporate purposes. Maverick Gold and Silver is an exploration-stage company with gold, silver, and copper properties in Nevada and British Columbia.