By Devika Patel
Knoxville, Tenn., April 27 - Merrex Gold Inc. said it hopes to raise C$1.5 million in a non-brokered private placement of units.
The company will sell 7.5 million units at C$0.20 apiece. Each unit consists of one common share and one warrant. Each warrant is exercisable at C$0.30 for one year.
Proceeds will be used for general working capital.
Based in Halifax, N.S., Merrex is a mineral resource exploration exploring for gold, zinc and nickel.
| Issuer: | Merrex Gold Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1.5 million
|
| Units: | 7.5 million
|
| Price: | C$0.20
|
| Warrants: | One warrant per unit
|
| Warrant strike price: | C$0.30
|
| Warrant expiration: | One year
|
| Agent: | Non-brokered
|
| Pricing date: | April 27
|
| Stock symbol: | TSX Venture: MXI
|
| Stock price: | C$0.18 at close April 24
|
| Market capitalization: | C$10.8 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
