Merrex Gold Update on $1,500,000 Share Exchange Agreement; Update on 2014 Exploration Planning
03 2월 2014 - 11:30PM
Access Wire
HALIFAX, NOVA SCOTIA / February 3, 2014 / ACCESSWIRE
/ Greg Isenor, President and CEO of Merrex Gold Inc.,
("Merrex") (TSX Venture: MXI) announces:
Update on $1,500,000 Share Exchange Agreement with
Global Resources Investments
Further to its news release of October 31, 2013 Merrex has
amended its C$1,500,000 arm's length share exchange agreement with
London-based investment group Global Resources Investments Ltd. to
account for fluctuations in the currency exchanges rates between
the Canadian dollar and the pound Sterling.
Pursuant to the amended $1,500,000 share exchange agreement
Merrex will subscribe for 813,450 ordinary GRIT shares at ?1.00 per
ordinary GRIT share in exchange for the issuance of 30,000,000
common shares of Merrex at C$0.05 per common share. After closing
of the transaction GRIT will own 19.28% of Merrex's equity shares.
The Merrex common shares will be subject to a four-month hold
period from the date of issuance. The GRIT shares will be freely
tradable on the London Stock Exchange.
A previously announced finder's fee has been cancelled.
The TSX Venture Exchange had conditionally approved the share
exchange agreement announced October 31, 2013. However, due to the
effluxion of time Merrex must now re-file for conditional approval
of the amended share exchange; given the prior approval management
foresees no difficulties obtaining this updated conditional
approval.
Closing of the share exchange is subject a number of conditions
precedent including final regulatory approval and completion of
GRIT's listing on the London Stock Exchange.
Update on 2014 Exploration Planning, Siribaya Gold Project
Merrex and project operator and JV partner IAMGOLD Corporation
are in the final stages of settling the 2014 drill program for the
Siribaya Gold Project. Details of the final program will be
releases as soon as they are available.
About Global Resources Investments
Global Resources Investments Ltd. was established to exploit
investment opportunities in the junior mining and natural resources
sectors worldwide. Its investment objective is to generate medium
and long-term capital growth.
Global Resources Investments Ltd. will re-register as a public
company and be constituted as an investment trust with its name
changed to Global Resources Investment Trust Plc ("GRIT"). GRIT is
seeking admission of its ordinary shares on the Main Market for
listed securities on the London Stock Exchange. The Main Market is
the London Stock Exchange's flagship market for larger, more
established companies, and is the world's most international market
for the trading of equity, debt and other securities with over
2,600 listed companies from 60 countries across 40 sectors,
including many of the world's largest, most successful and most
dynamic companies.
About Merrex's Siribaya Gold Project
The Siribaya Gold Project is a 50/50 joint Merrex-IAMGOLD
advanced-stage gold exploration project in West Mali comprised of
approximately 910 square kilometres of gold-prolific exploration
permits and permit applications pending. Exploration of the
Siribaya Gold Project is conducted under a joint management
committee. Expenditures to date on the Siribaya Project total
approximately $37 million.
The Siribaya Gold Project presently hosts a NI 43-101 compliant
gold resource estimated at 303,900 ounces grading 2.34 g/t
Indicated, and 301,400 ounces grading 2.17 g/t Inferred (July 31,
2012 ACA Howe International Limited); the deposit areas are open to
the north, south and at depth. Numerous other gold-anomalous target
areas have been identified by geochemistry and require
drilling.
Gregory P. Isenor, P. Geo., is the Qualified Person as defined
under NI 43-101 who has reviewed and is responsible for the
technical information presented in this news release.
Merrex is primarily a West African focused gold exploration
company with experienced management, a solid exploration team, a
prominent gold-producer as a partner and an expanding gold resource
... a winning combination.
For further details about the Company's exploration activities
or to view the most recent corporate presentation visit Merrex's
website at http://www.merrexgold.com/.
To be added to Merrex's email contact list please email your
request to info@merrexgold.com.
On Behalf of the Board
Gregory Isenor, P.Geo.
President & CEO
Merrex Gold Inc.
Suite 802, 1550 Bedford Highway, Bedford, NS B4A 1E6
Tel.: (902) 832-5555 Fax: (902) 832-2223
This press release includes certain statements that may be deemed
"forward-looking statements". All statements in this release, other
than statements of historical facts, that address future
exploration drilling, exploration activities and events or
developments that the Company expects, are forward-looking
statements. Although the Company believes the expectations
expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of
future performance and actual results or developments may differ
materially from those in forward-looking statements. Factors that
could cause actual results to differ materially from those in
forward-looking statements include market prices, exploitation and
exploration successes, continued availability of capital and
financing, and general economic, market or business conditions.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Merrex Gold Inc. (TSXV:MXI)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024
Merrex Gold Inc. (TSXV:MXI)
과거 데이터 주식 차트
부터 6월(6) 2023 으로 6월(6) 2024