By Laura Lutz
Des Moines, April 23 - Merrex Gold Inc. arranged a private placement of units for up to C$4.75 million.
The company plans to sell up to 5 million units of one share and one half-share warrant at C$0.95 per unit. Each whole warrant will be exercisable for 18 months, at C$1.25 in the first year and at C$1.75 thereafter.
A syndicate led by Pacific International Securities Inc. and including Paradigm Capital Inc. and Wellington West Capital Markets Inc. will act as agents.
The agents have a greenshoe for up to 5 million additional units, exercisable until 48 hours before closing.
Proceeds will be used for exploration and development, potential acquisitions, and general corporate purposes.
Merrex is a mineral exploration company based in Halifax, N.S.
| Issuer: | Merrex Gold Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$4.75 million
|
| Units: | 5 million
|
| Greenshoe: | For 5 million units
|
| Price: | C$0.95
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$1.25 in the first year; C$1.75 thereafter
|
| Agents: | Pacific International Securities Inc. (lead), Paradigm Capital Inc., Wellington West Capital Markets Inc.
|
| Pricing date: | April 23
|
| Stock symbol: | TSX Venture: MXI
|
| Stock price: | C$1.05 at close April 20
|
© 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.
