THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN
HALIFAX, NOVA SCOTIA --(Marketwire � June 12, 2008) - Gregory Isenor, P.Geo., President and CEO of Merrex Gold Inc. ("Merrex")(TSX VENTURE:MXI) announces that Merrex has engaged a syndicate of agents led by Blackmont Capital Inc. and including Canaccord Capital Corporation (�Agents�) for a private placement offering (�Offering�) of units (a �Unit�). Each Unit, priced at $0.45, is comprised of one common share (a �Unit Share�) and one half of one common share purchase warrant (a �Warrant�), for gross proceeds of approximately $5,000,000. Each whole Warrant will be exercisable by the holder thereof to acquire one common share of the Company (a �Warrant Share�) at a price of $0.65 for a period of 12 months following the date of closing (�Closing�). The Unit Shares, the Warrants and, if applicable, the Warrant Shares will be subject to a four-month hold period under applicable Canadian securities laws.
The net proceeds of the Offering will be used for continued drilling and development at the Company�s Siribaya gold project, for working capital and for general corporate purposes. Closing is expected to occur on or around July 15, 2008.
Completion of the private placement is subject to certain conditions, including satisfactory due diligence by the Agents and receipt of all necessary regulatory approvals.
Merrex Gold is a mineral resource exploration company focused on exploration for gold in West Mali, Africa, zinc in Cape Breton, Nova Scotia, nickel in West Voisey's Bay, Labrador, and gold in Red Lake, Ontario, with a solid organization of people and projects to enable continued aggressive exploration, discovery, and growth.
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FOR FURTHER INFORMATION PLEASE CONTACT:
Greg Isenor
President & CEO
(902) 832-5555
Or visit our website at www.merrexgold.com
This press release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OF THIS RELEASE.
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Merrex Gold
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EXPLORATEUR |
CODE : MXI.V |
ISIN : CA59012H1047 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Merrex Gold est une société d’exploration minière d'or basée au Canada. Merrex Gold détient divers projets d'exploration au Mali. Ses principaux projets en exploration sont RED LAKE PROPERTIES et JUBILEE au Canada et SIRIBAYA et KAKADIAN au Mali. Merrex Gold est cotée au Canada. Sa capitalisation boursière aujourd'hui est 44,8 millions CA$ (33,3 millions US$, 31,4 millions €). La valeur de son action a atteint son plus haut niveau récent le 29 décembre 2006 à 1,30 CA$, et son plus bas niveau récent le 13 décembre 2013 à 0,02 CA$. Merrex Gold possède 199 230 000 actions en circulation. |