Meryllion Announces Closing of LIFE Financing
Rhea-AI Summary
Meryllion (OTC:MYRLF) closed its previously announced non-brokered LIFE financing. The company issued 20,350,000 units at $0.05, raising gross proceeds of $1,017,500. Each unit includes one share and a warrant exercisable at $0.07 for 36 months after a 62-day delay.
Meryllion paid a $25,000 advisory fee plus 500,000 shares, and finder’s fees of $81,400 plus 1,628,000 finder’s warrants. Proceeds will fund exploration, development, and working capital. A director-controlled entity invested $75,000, treated as a related-party transaction under MI 61-101 with applicable exemptions.
AI-generated analysis. Not financial advice.
Positive
- Raised $1,017,500 gross proceeds through issuance of 20,350,000 units
- Additional capital potential from 20,350,000 warrants at $0.07 for 36 months
- Proceeds earmarked for exploration, development costs, and working capital
- Related-party participation of $75,000 may signal insider financial support
Negative
- Issuance of 20,350,000 units at $0.05 dilutes existing shareholders
- Advisor compensation includes 500,000 new shares, adding to dilution
- Issuance of 1,628,000 finder’s warrants creates further potential share overhang
- Cash costs for advisory and finder’s fees total $106,400, reducing net proceeds
Vancouver, British Columbia--(Newsfile Corp. - June 1, 2026) - Meryllion Resources Corporation (CSE: MYR) ("Meryllion" or the "Company") is pleased to announce that it has closed its previously announced non-brokered financing (the "Offering"). Pursuant to the Offering, the Company issued a total of 20,350,000 units (the "Units") at a price of
The Units were offered for sale pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 - Prospectus Exemptions, as amended by Coordinated Blanket Order 45-935 - Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the "Listed Issuer Financing Exemption") in all provinces of Canada and other qualifying jurisdictions. The securities issued under the Listed Issuer Financing Exemption will not be subject to a hold period in accordance with applicable Canadian securities laws.
In connection with the Offering, the Company entered into an Advisory Agreement with Research Capital Corporation (the "Advisor"), pursuant to which the Advisor provided financial advisory, consulting, and support services (the "Advisory Services"). In consideration for the Advisory Services, the Company paid the Advisor a cash work fee of
In connection with the Offering, the Company paid finder's fees to eligible finders in the aggregate amount of
All of the Advisor Shares and Finder's Warrants are subject to a hold period of four months and one day from the date of issuance in accordance with Canadian securities laws.
The proceeds from the Offering will be used by Meryllion to fund exploration and development costs and for working capital purposes.
Croesus Mining Pty Ltd., under the control of David Steinepreis, a director of the Company, participated in the Offering in the amount of
The offering document related to the Offering can be accessed under the Company's issuer profile on SEDAR+ at www.sedarplus.ca and on the Company's website at: www.meryllionres.com.
About Meryllion Resources Corporation:
Meryllion is an exploration-stage company listed on the Canadian Securities Exchange. The Company recently entered into a lease and option agreement in respect of the Makenzie gold/silver/antimony project located 44 kms south-southwest of Austin, Nevada in the Toiyabe Range of central Nevada. Makenzie is known to be one of the largest untested gold, silver and antimony anomalies in the state of Nevada.
Meryllion also has the rights to acquire up to a
For further information, please contact:
Mr. Richard Revelins
Director and Chief Executive Officer
Meryllion Resources Corporation
+1-310-405-4475
rrevelins@peregrinecorporate.com
Forward-Looking Statements
Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such.
Neither CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/299573