Merc International Minerals Inc.: New Board Member-Private Placement Financing
01 September 2010 - 3:22PM
Marketwired
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 www.sedar.com. 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.
Contacts: Merc International Minerals Inc. David Wiley
647-260-1247 info@mercinternational.ca www.mercinternational.ca
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