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DEVELOPMENT OF A MAJOR GOLD RESOURCE at the 840 square kilometre Siribaya Gold Project in Mali, West Africa
Message: Announces $1,500,000 Private Placement
| April 27, 2009 |
| Merrex Announces $1,500,000 Private Placement |
| HALIFAX, NOVA SCOTIA--(Marketwire - April 27, 2009) - NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES Gregory Isenor, P.Geo., President and CEO of Merrex Gold Inc. ("Merrex")(TSX VENTURE:MXI) announces that it intends to raise up to $1,500,000 by way of a best efforts non-brokered private placement. Merrex will issue up to 7,500,000 units at a price of $0.20 per unit (the "Unit"). Each Unit will be comprised of one common share and one share purchase warrant exercisable for twelve months at $0.30 per share. Merrex will pay commissions or finders' fees equal to 7% of the gross proceeds raised from the placement, such commissions and finders' fees to be payable in cash or in common shares at a deemed issue price of $0.20 per share. Completion of the private placement is subject to receipt of all necessary regulatory approvals. The net proceeds of this private placement will be used for general working capital. Merrex's principal projects are its Siribaya Gold Project in Mali (West Africa), an advanced exploration project with an initial NI 43-101 resource estimate and the Jubilee Zinc Deposit in Cape Breton, Nova Scotia, also with a NI 43-101 resource estimate. Merrex Gold is a mineral resource exploration company focusing on gold exploration in West Mali, western Turkey and in the Red Lake area of Ontario and zinc exploration in Cape Breton, Nova Scotia. Merrex has a solid organization of people and projects enabling aggressive exploration, discovery and growth. Please visit our website at www.merrexgold.com for the most recent presentation. |
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