Maxim Resources Inc. (TSXV:MXM) entered into a heads of agreement to acquire Beni Znassen Block in the Kingdom of Morocco from First Sahara Energy Inc. (DB:T3F) for CAD 0.34 million in stock on May 14, 2014. Maxim Resources Inc. (TSXV:MXM) signed an reconnaissance agreement to acquire Beni Znassen Block in the Kingdom of Morocco from First Sahara Energy Inc. (DB:T3F) on June 23, 2014. Under the transaction, Maxim Resources will issue 2 million shares of its common stock subject to a four-month hold period. Beni Znassen Block will now operate under the name of Maxim Pétrole de Gaz SARL. There is a finder's fee payable by Maxim Resources on this transaction of CAD 0.03 million, which will consist of CAD 0.01 million in cash and the balance by the issuance of 0.4 million common shares at CAD 0.05 per share. David Stadnyk, Former Director and Chief Executive Officer of FSE, has joined the Maxim Board of Directors. Rajeev Dewan of WeirFoulds LLP acted as legal advisor for Maxim Resources.

Maxim Resources Inc. (TSXV:MXM) completed the acquisition of Beni Znassen Block in the Kingdom of Morocco from First Sahara Energy Inc. (DB:T3F) on June 24, 2014.