About Maritime Resources
Maritime Resources is a publicly listed company based in Toronto (Canada) founded in 2007, and was acquired by New Found Gold in September 2025. Mining and exploration of gold assets are specialized in. Its chief executive, as recorded, is Garett Macdonald. Maritime Resources offers products and services including Hammerdown Gold Project and Pine Cove Mill. Its focus areas include Mining, Mining Companies, Metals and Precious Metals. Its legal entity is Maritime Resources Corp.
Company details
Maritime Resources was established in 2007 in Toronto, Canada. Focus is placed on the mining and exploration of gold assets within the natural resources sector. Operations are managed from Canada, with emphasis on asset development and resource evaluation. Leadership is provided by CEO Garett Macdonald. Activities are conducted to support gold project advancement in relevant geographies.
- Headquarters Toronto, Canada
- Stage Public
- SectorsNatural Resources
- Email••••••••
- Phone•••• ••••
- Website maritimeresourcescorp.com
- Social LinkedIn X Facebook
- Acquired by New Found Gold (Sep 2025)
- Legal Name Maritime Resources Corp.
- Net Profit-$4.82 M (USD)-172.4as on Dec 31, 2024
- EBITDA-$3.15 M (USD)-71.84as on Dec 31, 2024
- Latest Funding Round$8.39M (USD), Post-IPO
Jul 2025
- InvestorsNew Found Gold
& 5 more
- Acquired byNew Found Gold
(Sep 2025)
Products & Services of Maritime Resources
Maritime Resources offers a comprehensive portfolio of products and services, including Hammerdown Gold Project and Pine Cove Mill.
Exploration and development of gold deposits are conducted to advance production
Gold processing with a capacity of 1,300 tonnes per day is operated in the Baie Verte mining district
Funding Insights of Maritime Resources
- Total Rounds 19
- Last Round Post-IPO — $8.39M
- First Round $540,700
(Jun 2012)
- Investors Count 5
Latest 10 of 19 funding rounds of Maritime Resources with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul 2025 | $8.39M | Post-IPO | – | Paradigm Capital | – |
| Jun 2025 | $7.28M | Post-IPO | – | – | – |
| Apr 2025 | $2.9M | Post-IPO | – | – | – |
| Jan 2025 | Post-IPO | – | – | – | |
| Mar 2024 | $1.84M | Post-IPO | – | – | |
| Aug 2023 | $160,000 | Post-IPO | – | – | – |
| Jul 2023 | Post-IPO | – | – | – | |
| Sep 2022 | $3.7M | Post-IPO | – | – | – |
| Feb 2021 | $3.21M | Post-IPO | – | – | |
| Apr 2020 | $3.5M | Post-IPO | – | – | – |
6 investors in total: 6 institutional.
Investors in Maritime Resources
Maritime Resources has secured backing from 6 investors, including venture fund and institutional investors. Prominent investors backing the company include New Found Gold, Dundee Corporation and Firefly Metals.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Tembo Capital is focused on mining investments for clean energy. | tembocapital.com | London, United Kingdom | ||
Diversified holding company engaged in wealth management, resources, agriculture and real estate areas | 1984 | dundeecorporation.com | Toronto, Canada | |
Copper and gold mining and exploration are conducted in Canada. | 2005 | ramblermines.com | Baie Verte, Canada | |
Paradigm Capital is focused on investment banking and advisory services. | paradigmcap.com | Toronto, Canada | ||
Gold exploration and development company focused on high-grade gold projects | 2017 | newfoundgold.ca | Toronto, Canada | |
Copper-gold projects are developed and gold exploration is conducted. | 2004 | fireflymetals.com.au | Perth, Australia |
Investor details for Maritime Resources
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People of Maritime Resources
1 people are tracked at Maritime Resources (1 in leadership).
| Name | Role | Group |
|---|---|---|
Garett Macdonald | CEO | Leadership |
Complete people profiles for Maritime Resources
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IPO & Listings of Maritime Resources
Maritime Resources is a publicly listed company on the TSXV with ticker symbol MAE in Canada, operating in the Non-energy minerals sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.
- IPO date17 Sep 2008
- Listed onTSX-V: MAE
- Listed entityMaritime Resources Corp.
- Exchange sectorNon-energy minerals
- ISINCA57035U7069
- Share price2.24 CAD (+5.16% on the day) · 2025-11-14
- Market capitalisation253,683,813.00 CAD
- EPS (diluted, trailing year)-0.06 CAD
- Volume (last session)459,522
- Analyst consensusStrong buy
Financials of Maritime Resources
| Year | Revenue | Net income | EBITDA |
|---|---|---|---|
| 2024 | -6.9M CAD | -4.5M CAD | |
| 2023 | -2.5M CAD | -2.6M CAD | |
| 2022 | -1.8M CAD | -2.0M CAD | |
| 2021 | -1.6M CAD | -2.9M CAD | |
| 2020 | -1.3M CAD | -1.9M CAD |
Detailed financial statements for Maritime Resources
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Timeline of Maritime Resources
5 dated milestones of Maritime Resources across 18 years, from founding to its latest funding, stage changes and deals.
- Founded Maritime Resources is founded.
- IPO Lists on the stock exchange (IPO).
- Funding First funding round of $541K.
- Funding Latest funding round, Post-IPO, of $8.4M.
- Exit Acquired by New Found Gold.
Top companies in Mining Companies
3 companies that operate in the same segment as Maritime Resources (Mining Companies) in Canada, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
First Majestic is engaged in silver and gold mining operations. | 2002 | Vancouver, British Columbia, Canada | USD 1.29 B | |||
Diversified exploration and development of metals are conducted globally. | 1949 | Rouyn-noranda, Quebec, Canada | USD 1.06 M | |||
Previous metals exploration company | 1973 | Vancouver, British Columbia, Canada | USD 9.47 M |
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Related news about Maritime Resources
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Frequently Asked Questions about Maritime Resources
Maritime Resources was founded in 2007 and raised its 1st funding round 5 years after it was founded.
Maritime Resources is headquartered in Toronto, Canada. It is registered at Toronto, Ontario, Canada.
Garett Macdonald is the CEO of Maritime Resources, as recorded in our data.
Maritime Resources was established in 2007 in Toronto, Canada. Focus is placed on the mining and exploration of gold assets within the natural resources sector. Operations are managed from Canada, with emphasis on asset development and resource evaluation. Leadership is provided by CEO Garett Macdonald. Activities are conducted to support gold project advancement in relevant geographies.
Maritime Resources offers Hammerdown Gold Project and Pine Cove Mill.
Yes, Maritime Resources is publicly traded on TSXV under the ticker symbol MAE.
Maritime Resources has 6 investors. Key investors include New Found Gold, Dundee Corporation, Firefly Metals, Rambler Metals & Mining, and Tembo Capital.
Maritime Resources operates through Maritime Resources Corp..
Yes. Maritime Resources was acquired by New Found Gold in September 2025.