Meryllion Resources Closes Second Tranche of Private Placement

Rhea-AI Summary

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.

Positive

• Successful completion of second tranche financing raising $215,800
• Potential for business expansion through new acquisitions

Negative

• Dilution of existing shareholders through issuance of 14,386,665 new shares
• Low share price of $0.015 indicates potential financial concerns

Vancouver, British Columbia--(Newsfile Corp. - April 7, 2025) -  Meryllion Resources Corporation (CSE: MYR), ("Meryllion" or the "Corporation") is pleased to announce that it has closed a second tranche (the "Second Tranche") of its previously announced non-brokered private placement (the "Private Placement"). Pursuant to this Second Tranche, the Corporation issued a total of 14,386,665 common shares in the capital stock of the Corporation (the "Common Shares") at a price of $0.015 per Common Share for gross proceeds of $215,800.

Proceeds from the Private Placement will be used for working capital purposes and to pursue potential new acquisitions. The Private Placement is subject to final acceptance of the CSE. All securities issued pursuant to the Private Placement are subject to a hold period of four months and one day from the date of issuance.

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/247576

FAQ

How much did Meryllion Resources (MYRLF) raise in the second tranche of its private placement?

Meryllion Resources raised $215,800 through the second tranche of its private placement.

What is the price per share for Meryllion Resources' (MYRLF) private placement?

The private placement shares were priced at $0.015 per common share.

How many common shares did Meryllion Resources (MYRLF) issue in the second tranche?

Meryllion Resources issued 14,386,665 common shares in the second tranche.

What will Meryllion Resources (MYRLF) use the private placement proceeds for?

The proceeds will be used for working capital purposes and to pursue potential new acquisitions.

What is the hold period for Meryllion Resources' (MYRLF) private placement shares?

The securities have a hold period of four months and one day from the date of issuance.