By Devika Patel
Knoxville, Tenn., June 1 - Merrex Gold Inc. said it took in C$1.69 million in an oversubscribed non-brokered private placement of units. The deal priced for C$1.50 million on April 27.
The company sold 8,474,300 units at C$0.20 apiece. Each unit consists of one common share and one warrant. Each warrant is exercisable at C$0.30 for one year.
Proceeds will be used for general 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 warrant
|
| Amount: | C$1,694,860
|
| Units: | 8,474,300
|
| Price: | C$0.20
|
| Warrants: | One warrant per unit
|
| Warrant strike price: | C$0.30
|
| Warrant expiration: | One year
|
| Agent: | Non-brokered
|
| Pricing date: | April 27
|
| Settlement date: | June 1
|
| Stock symbol: | TSX Venture: MXI
|
| Stock price: | C$0.18 at close April 24
|
| Market capitalization: | C$12 million
|
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