By Devika Patel
Knoxville, Tenn., June 12 - Merrex Gold Inc. announced it hopes to raise C$5 million in a private placement of units.
The company will sell units at C$0.45 apiece. Each unit consists of one common share and one half-share warrant. Each whole warrant is exercisable at C$0.65 for one year.
Settlement is expected July 15.
Proceeds will be used for continued drilling and development at the company's Siribaya gold project, for working capital and for general corporate purposes.
Based in Halifax, N.S., Merrex Gold is a mineral resource exploration company exploring for gold, zinc and nickel.
| Issuer: | Merrex Gold Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$5 million
|
| Price: | C$0.45
|
| Warrants: | One half-share warrant per unit
|
| Warrant strike price: | C$0.65
|
| Warrant expiration: | One year
|
| Pricing date: | June 12
|
| Settlement date: | July 15
|
| Stock symbol: | TSX Venture: MXI
|
| Stock price: | C$0.51 at close June 11
|
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