Merrex Gold Inc.

Merrex Gold Inc.

April 27, 2009 12:33 ET

Merrex Announces $1,500,000 Private Placement

HALIFAX, NOVA SCOTIA--(Marketwire - April 27, 2009) -


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 for the most recent presentation.

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 of the adequacy or accuracy of this release.

Contact Information

  • Merrex Gold Inc.
    Greg Isenor
    President & CEO
    (902) 832-5555
    (902) 832-2223 (FAX)