By Devika Patel
Knoxville, Tenn., Dec. 21 - Merrex Gold Inc. said it has settled a C$3.1 million private placement of shares. The deal priced Dec. 6 for C$3 million.
The company sold 4,769,185 flow-through common shares at C$0.65 each. It originally planned to sell up to 4,615,385 shares.
Blackmont Capital Inc. was the agent for the deal and was paid a C$216,998 cash fee and broker's warrants to purchase up to 333,843 common shares at C$0.60 per share for two years.
Proceeds will be used for exploration.
Based in Halifax, N.S., Merrex Gold is a mineral resource exploration company exploring for gold, zinc and nickel.
| Issuer: | Merrex Gold Inc.
|
| Issue: | Flow-through common shares
|
| Amount: | C$3,099,970
|
| Shares: | 4,769,185
|
| Price: | C$0.65
|
| Warrants: | No
|
| Agent: | Blackmont Capital Inc.
|
| Fees: | C$216,998 cash and warrants to buy up to 333,843 shares
|
| Pricing date: | Dec. 6
|
| Settlement date: | Dec. 21
|
| Stock symbol: | TSX Venture: MXI
|
| Stock price: | C$0.60 at close Dec. 6
|
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