Business & Finance
Business and Finance
Business and Finance
Mon, June 8, 2009
Sun, June 7, 2009
Fri, June 5, 2009 Merrex Gold Inc.: Merrex Grants Stock Options, Bonus Shares
HALIFAX, NOVA SCOTIA--(Marketwire - June 5, 2009) - Gregory Isenor, P.Geo., President and CEO of Merrex Gold Inc. ("Merrex")(TSX VENTURE:MXI) announces:
Stock Options
Merrex announces that 3,400,000 incentive stock options have been granted to directors, officers, employees and consultants pursuant to Merrex's rolling stock option plan. The stock options are exercisable for five years at $0.25 per share.
Bonus Shares
Merrex announces that it will issue up to 369,200 shares to directors and officers as a one-time bonus for loans advanced, expenses incurred and salaries and fees deferred. All outstanding amounts are unsecured, interest free and without fixed terms of repayment. The share bonus is consistent with the loan bonus provisions of TSX Listings Policy 5.1 and is subject to TSX acceptance for filing.
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 [ www.merrexgold.com ] 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 for the adequacy or accuracy of this release.
