Welcome to our dedicated page for Meryllion Resour news (Ticker: MYRLF), a resource for investors and traders seeking the latest updates and insights on Meryllion Resour stock.
Meryllion Resources Corporation (MYRLF) maintains an active exploration program targeting ionic rare earth deposits in Tasmania's mineral-rich regions. This news hub provides investors with essential updates on drilling campaigns, financial restructuring, and strategic developments within the rare earth sector.
Access comprehensive coverage of corporate announcements including tenement acquisitions, shares-for-debt transactions, and exploration results from key projects. Our repository ensures timely access to material disclosures that impact investment decisions.
Key updates feature geological findings from field reconnaissance, capital structure adjustments, and compliance with mining regulations. Monitor progress in developing cost-effective extraction methods for magnet metals critical to renewable energy technologies.
Bookmark this page for verified updates on MYRLF's operational milestones and financial strategy. Stay informed about Tasmania-based rare earth exploration through our curated collection of official announcements and analysis.
Meryllion Resources (CSE: MYR) has completed a shares-for-debt transaction with Croesus Mining Pty Ltd, a company controlled by director David Steinepreis, to settle a $50,000 loan. The company issued 2.5 million common shares at $0.02 per share, subject to a four-month hold period. Following the transaction, Steinepreis's ownership in Meryllion increased from 23.20% to 25.74%, and could reach 27.98% if all his warrants are exercised. The transaction qualified as a "related party transaction" under MI 61-101, with the company utilizing exemptions from valuation and minority shareholder approval requirements.
Meryllion Resources (CSE: MYR) has announced a proposed shares-for-debt settlement with Croesus Mining Pty , a company controlled by director David Steinepreis. The transaction aims to settle a $50,000 loan through the issuance of 2,500,000 common shares at a deemed price of $0.02 per share.
The completion of this settlement requires regulatory approvals, including from the Canadian Securities Exchange. The issued shares will be subject to a four-month and one-day hold period. As this transaction constitutes a 'related party transaction' under MI 61-101, the Company plans to rely on exemptions from valuation and minority shareholder approval requirements, as the transaction value does not exceed 25% of the Company's market capitalization.
Meryllion Resources (CSE: MYR) has successfully completed the second tranche of its non-brokered private placement, raising $215,800 through the issuance of 14,386,665 common shares at $0.015 per share.
The proceeds will be allocated towards working capital requirements and exploring potential new acquisitions. All securities issued are subject to a mandatory four-month and one-day hold period from the issuance date. The private placement remains subject to final acceptance from the CSE.
Meryllion Resources (CSE: MYR) has completed the first tranche of its non-brokered private placement, raising $244,800 through the issuance of 16,320,001 common shares at $0.015 per share. Insiders participated for $118,000 of the placement.
As part of the transaction, David Steinepreis, through Croesus Mining Pty , acquired 7,866,667 common shares, increasing his ownership from 21.44% to 27.97%. If all his warrants were exercised, his ownership would reach 31.63%. A second tranche is expected to close around April 4, 2025.
Meryllion Resources (CSE: MYR) has announced a non-brokered private placement offering of up to 33,000,000 common shares at $0.015 per share, aiming to raise gross proceeds of up to $495,000. The placement may be oversubscribed.
The company may pay finders' fees to eligible arm's length persons for certain subscriptions. All issued shares will be subject to a four-month and one-day hold period from the issuance date. The offering's completion is contingent on obtaining required approvals, including CSE approval.
The proceeds will be utilized for working capital purposes and to pursue potential new acquisitions.
Meryllion Resources has announced the granting of exploration permits for its maiden drilling program targeting neodymium-rich ionic rare earth clays in north-east Tasmania. The permits are for the EL20/2022 area, where three preliminary exploration drilling locations have been identified. Field reconnaissance by Meryllion's geologists yielded promising results, with neodymium concentrations reaching up to 533ppm. The company has secured a specialized drilling team and plans to commence the drilling campaign post-winter season. The project is strategically located near known ionic rare earth resources, promising lower-cost, rapid development due to the shallow depth and simpler extraction process of ionic adsorption clay deposits.
Meryllion Resources has announced a CAD$50,000 loan from Croesus Mining, a company controlled by director David Steinepreis. This unsecured, interest-free loan is due by May 14, 2025. The transaction is a related party deal under MI 61-101 but exempt from valuation and minority shareholder approval requirements due to the company's market capitalization. The agreement received approval from all independent directors. For more details, contact CEO Richard Revelins or Investor Relations.
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