Offering finances exploration on Siribaya Gold Project in West Mali
By Devika Patel
Knoxville, Tenn., May 22 - Merrex Gold Inc. said it plans a C$1.2 million non-brokered private placement of units.
The company will sell 16 million units of one common share and a half-share warrant at C$0.075 per unit. Each whole warrant is exercisable at C$0.15 for one year. The strike price reflects a 150% premium to the May 21 closing share price of C$0.06.
Proceeds will be used for exploration on Merrex's Siribaya Gold Project in West Mali.
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 a half-share warrant
|
| Amount: | C$1.2 million
|
| Units: | 16 million
|
| Price: | C$0.075
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.15
|
| Agent: | Non-brokered
|
| Pricing date: | May 22
|
| Stock symbol: | TSX Venture: MXI
|
| Stock price: | C$0.06 at close May 21
|
| Market capitalization: | C$7.13 million
|
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