Meryllion Resources Closes First Tranche of Private Placement

Executive Summary

• Meryllion Resources closed the first tranche of its non‑brokered private placement, issuing 5,640,000 common shares at $0.05 each for gross proceeds of $282,000.
• The company paid a finder’s fee of $10,500 and insiders purchased an additional $37,500 of shares in the tranche.
• Proceeds will be used to fund exploration activities and working capital; a second tranche is expected to close within two weeks.

Key Details

• Shares Issued: 5,640,000 common shares.
• Price per Share: $0.05.
• Gross Proceeds (First Tranche): $282,000.
• Finder’s Fee Paid: $10,500 to an eligible finder.
• Insider Participation: $37,500 total purchase by insiders (treated as a related‑party transaction under MI 61‑101).
• Hold Period: All securities subject to a four‑month‑and‑one‑day hold period from issuance date.
• Regulatory Condition: Private placement pending final acceptance by the Canadian Securities Exchange (CSE).
• Use of Proceeds: Funding exploration activities and general working capital.
• Second Tranche Timeline: Expected closure within the next two weeks.

Notable Quotes

(No direct quotes were included in the release.)