Merrex Gold cancels C$5 million private placement of units

By Devika Patel

Knoxville, Tenn., July 16 - Merrex Gold Inc. announced that, due to adverse market conditions, it will not proceed with a C$5 million private placement of units. The deal priced on June 12.

The company said that alternate financing sources are being investigated.

Based in Halifax, N.S., Merrex Gold is a mineral resource exploration exploring for gold, zinc and nickel.

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