TransactionsCassels Brock Acts For Merc International Inc. In Its $9 Million Private PlacementPublished: 06/20/2011 By Cathy L. Mercer, Michael Noonan, Alexander Pizale On March 7, 2011 Merc International Minerals Inc. (“Merc”) announced that it completed the first tranche representing $9 million of a $9.25 million non-brokered private placement financing. The first tranche of the offering comprised 14,400,000 units at $0.20 per Unit and 24,480,000 flow-through common shares at $0.25 per Flow-Through Share for aggregate gross proceeds of $9 million. Each Unit consists of one common share and one half of one common share purchase warrant . Each Warrant entitles the holder to acquire one additional common share at an exercise price of $0.35 per share for a period of 24 months following the closing date. If Merc's shares trade at or above $0.50 per share for 21 consecutive trading days, Merc may then accelerate the expiration of the Warrants upon not less than 30 days written notice. Cassels Brock acted for Merc with a team consisting of Cathy Mercer (Securities & Mining), Michael Noonan (Securities) and Alexander Pizale (Securities). |