Offering contemplates selling common shares at C$0.55 each to Iamgold
By Devika Patel
Knoxville, Tenn., March 10 - Merrex Gold Inc. said it has arranged a private placement of stock. The deal will raise C$2.5 million.
The company will sell 4,545,455 common shares at C$0.55 each to Iamgold Corp. The price per share is a 1.79% discount to C$0.56, the March 9 closing share price.
Based in Halifax, N.S., Merrex is a mineral resource exploration company exploring for gold, zinc and nickel.
| Issuer: | Merrex Gold Inc.
|
| Issue: | Common stock
|
| Amount: | C$2.5 million
|
| Shares: | 4,545,455
|
| Price: | C$0.55
|
| Warrants: | No
|
| Investor: | Iamgold Corp.
|
| Pricing date: | March 10
|
| Stock symbol: | TSX Venture: MXI
|
| Stock price: | C$0.56 at close March 9
|
| Market capitalization: | C$46.55 million
|
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