IAMGOLD purchases 3.5 million units of one share, a half-share warrant
By Devika Patel
Knoxville, Tenn., June 2 - Merrex Gold Inc. said it has arranged a C$1.75 million private placement of units. IAMGOLD Corp. is the investor.
The company will sell 3.5 million units of one common share and one half-share warrant at C$0.50 each. The whole warrants are each exercisable at C$0.75 until Sept. 31, 2012. The strike price represents a 44.23% premium to C$0.52, the closing share price on June 1.
Proceeds will be used for working capital.
Based in Halifax, N.S., Merrex 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$1.75 million
|
| Units: | 3.5 million
|
| Price: | C$0.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Sept. 31, 2012
|
| Warrant strike price: | C$0.75
|
| Investor: | IAMGOLD Corp.
|
| Pricing date: | June 2
|
| Stock symbol: | TSX Venture: MXI
|
| Stock price: | C$0.52 at close June 1
|
| Market capitalization: | C$44.76 million
|
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