NewsMeritus Closes Financing
Wed Oct 6, 2:35 PM
Vancouver,B.C.: Meritus Minerals Ltd. (MML) (TSX-V – MER) Meritus Minerals Ltd ispleased to announce that the TSX-Venture Exchange has accepted forfiling documentation with respect to the closing of the second andfinal tranche of its non-brokered private placement previouslyannounced on July 30, 2010. The Company will issue 631,400 units (the"Units") at a price of
.10 per Unit. Each Unit consists of one commonshare and one share purchase warrant with each whole warrant entitlingthe holder to acquire one additional common share at a price of
.15per share for a period of one year from closing.
There is a statutory hold period of 4 months plus 1 day, expiringFebruary 6, 2011 on all shares issued pursuant to this privateplacement.
As previously announced, a second drill rig has now arrived anddrilling continues on our Gutain Davaa property in Mongolia. Resultswill be released as they become available.
Meritus Minerals Ltd (C.MER) is a mineral exploration companycommitted to building shareholder value through the acquisition of baseand precious metal properties. For additional information, contactRichard Schnoor at 604 618-9327.
On Behalf of the Board of Directors
Meritus Minerals Ltd.
Terence E. Bates - CEO and President