HALIFAX, Feb. 28, 2017 /CNW/ - Merrex Gold Inc.
("Merrex" or the "Company") (TSX Venture: MXI) is
pleased to announce that is has completed its previously announced
transaction involving IAMGOLD Corporation ("IAMGOLD")
whereby IAMGOLD has acquired of all of the outstanding securities
of Merrex pursuant to a statutory plan of arrangement (the
"Arrangement"). It is expected that the Merrex common
shares will be de-listed from the TSX Venture Exchange and that
Merrex will make an application to cease to be a reporting issuer
in the applicable jurisdictions.
About Merrex Gold Inc.
Merrex's primary assets are its gold properties in West Mali, principally its 50% interest in the
Siribaya Gold Project, its 100% held Karita exploration
authorization in Guinea and its
100% held zinc-lead property in Nova
Scotia (the Jubilee Project). Merrex holds permits totaling
approximately 700 square kilometers within an approximately 4,100
square kilometers area of interest in the southern portion of the
West Mali Gold Belt. The head office of Merrex is currently
located at 802 - 1550 Bedford Highway. Halifax, NS, B4A 1E6 and is expected to be
moved to 401 Bay Street, Suite 3200, PO Box 153, Toronto, Ontario, M5H 2Y4.
Forward Looking Statement
This release contains certain "forward-looking information"
under applicable Canadian securities laws concerning the
Arrangement. Forward-looking information reflects the Company's
current internal expectations or beliefs and is based on
information currently available to the Company. In some cases
forward-looking information can be identified by terminology such
as "may", "will", "should", "expect", "intend", "plan",
"anticipate", "believe", "estimate", "projects", "potential",
"scheduled", "forecast", "budget" or the negative of those terms or
other comparable terminology. Such forward-looking information is
based upon assumptions, many of which are based on factors and
events that are not within the control of the Company, and there is
no assurance they will prove to be correct or accurate. Risk
factors that could cause actual results to differ materially from
those predicted herein include, without limitation: that the
business prospects and opportunities of the Company and IAMGOLD
will not proceed as anticipated; changes in the global prices for
gold or certain other commodities (such as diesel, aluminum and
electricity); changes in U.S. dollar and other currency exchange
rates, interest rates or gold lease rates; risks arising from
holding derivative instruments; the level of liquidity and capital
resources; access to capital markets, financing and interest rates;
mining tax regimes; ability to successfully integrate acquired
assets; legislative, political or economic developments in the
jurisdictions in which the Company carries on business; operating
or technical difficulties in connection with mining or development
activities; laws and regulations governing the protection of the
environment; employee relations; availability and increasing costs
associated with mining inputs and labour; the speculative nature of
exploration and development; contests over title to properties,
particularly title to undeveloped properties; and the risks
involved in the exploration, development and mining business. Risks
and unknowns inherent in all projects include the inaccuracy of
estimated reserves and resources, metallurgical recoveries, capital
and operating costs of such projects, and the future prices for the
relevant minerals.
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.
SOURCE Merrex Gold Inc.