Meryllion Announces Non-Brokered Private Placement
Rhea-AI Summary
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.
Positive
- Potential to raise up to $495,000 in new capital
- Flexibility for oversubscription to raise additional funds
- Funds allocated for working capital and new acquisition opportunities
Negative
- Significant shareholder dilution with 33 million new shares
- Low share price of $0.015 indicates potential financial distress
- Additional dilution possible through finder's fees
Vancouver, British Columbia--(Newsfile Corp. - March 21, 2025) - Meryllion Resources Corporation (CSE: MYR) ("Meryllion" or the "Company") is pleased to announce its intention to complete a non-brokered private placement of up to 33,000,000 common shares in the capital stock of the Company at a price of
In connection with the Private Placement, finders' fees may be payable to eligible arm's length persons with respect to certain subscriptions accepted by the Company in accordance with applicable securities laws and the policies of the Canadian Securities Exchange (the "CSE").
Closing of the Private Placement is subject to obtaining all required approvals, including the approval of the CSE and any other regulatory approval. All shares issued pursuant to the Private Placement will be subject to a hold period of four months and one day from the date of issuance under applicable securities laws.
The proceeds from the Private Placement will be used by Meryllion for working capital purposes and to pursue potential new acquisitions.
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/245543
FAQ
How much is Meryllion Resources (MYRLF) planning to raise in its private placement?
What is the share price for Meryllion's (MYRLF) private placement announced in March 2025?
How will Meryllion (MYRLF) use the proceeds from its 2025 private placement?
What is the hold period for shares issued in Meryllion's (MYRLF) private placement?
