By Sheri Kasprzak
New York, July 17 - Merrex Gold Inc. wrapped a private placement for C$1,169,540.
The company sold 1,222,833 units at C$0.60 each and 622,629 flow-through shares at C$0.70 each to 49 investors.
The units consist of one share and one half-share warrant. The terms of the warrants could not be determined by press time Monday.
Proceeds will be used for exploration on the company's Jubilee property and for the West Voisey's Bay joint venture. The rest will be used for general corporate purposes.
Merrex, based in Halifax, N.S., is a gold exploration company.
| Issuer: | Merrex Gold Inc.
|
| Issue: | Flow-through shares and units of one share and one half-share warrant
|
| Amount: | C$1,169,540
|
| Settlement date: | July 17
|
| Stock symbol: | TSX Venture: MXI
|
| Stock price: | C$0.95 at close July 14
|
|
|
| Flow-through shares
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| Shares: | 622,629
|
| Price: | C$0.70
|
| Warrants: | No
|
|
|
| Units
|
| Units: | 1,222,833
|
| Price: | C$0.60
|
| Warrants: | One half-share warrant per unit
|
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