Merc International Minerals Inc.

Merc International Minerals Inc.

September 01, 2010 09:22 ET

Merc International Minerals Inc.: New Board Member-Private Placement Financing

TORONTO, ONTARIO--(Marketwire - Sept. 1, 2010) - Merc International Minerals Inc. ("Merc") (TSX VENTURE:MRK) announced today that it has appointed David Wiley to its Board of Directors and that it proposes to complete a non-brokered offering of up to $1,000,0000.

David Wiley was appointed Chief Executive Officer on an interim basis on August 30, 2010. Mr. Wiley is a Founding Partner of Raven Hill Partners, a Toronto-based merchant banking company.

The proposed private placement will consist of up to 9,090,909 units ("Units") at $0.11 per Unit for aggregate gross proceeds of up to $1,000,000. Each Unit will consist of one common share of Merc and one common share purchase warrant (a "Warrant"). Each Warrant will entitle the holder thereof to acquire one additional common share of Merc for a period of two years from the closing date of the private placement at an exercise price of $0.14 per share. Insiders of Merc may purchase up to 25% of the Units issued in the private placement. The net proceeds of the private placement will be used for general corporate purposes. The private placement remains subject to the approval of the TSX Venture Exchange. 

Forward-Looking Information

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, information with respect to Merc's proposed private placement and future activities. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Merc to be materially different from those expressed or implied by such forward-looking information, including risks associated with the exploration, development and mining such as economic factors as they effect exploration, future commodity prices, changes in foreign exchange and interest rates, actual results of current exploration activities, government regulation, political or economic developments, environmental risks, permitting timelines, capital expenditures, operating or technical difficulties in connection with development activities, employee relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of reserves, contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in Merc's management discussion and analysis for the nine months ended April 30, 2010, available on Although Merc has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Merc does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Neither 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.

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