Merc International Minerals Inc.

Merc International Minerals Inc.

October 05, 2007 09:30 ET

Merc International Minerals RTO

TORONTO, ONTARIO--(Marketwire - Oct. 5, 2007) - Merc International Minerals Inc. ("MIMI") (TSX VENTURE:MRK) announces that it will not proceed with its reverse takeover transaction under which it was to have acquired all of the outstanding shares of Uranium World Energy Inc. ("UWE") from UWE shareholders.

Accordingly MIMI will not proceed with the following related transactions or corporate actions:

(a) an announced $3.75 million non-brokered private placement;

(b) the consolidation of its common shares on the basis of 1 post-consolidation common share for every 1.25 pre-consolidation common shares;

(c) the sale of its existing mineral properties; and

(d) a change of its name.

MIMI plans to re-focus its activities on its existing gold exploration properties and seek new investment opportunities.

This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. The Company disclaims any intention or obligation to revise or update such statements.

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

Contact Information

  • Merc International Minerals Inc.
    Thomas Pladsen
    President and CEO
    (647) 287-3778
    (416) 628-5911 (FAX)