Meryllion Resources Makes Option Exercise Payment

Rhea-AI Summary

Meryllion Resources Corporation (CSE: MYR) has exercised the option payment for rare earth exploration leases in Tasmania, issuing 4,186,046 common shares at a deemed price of CAD$0.043 per share, totaling CAD$180,000 (AUD$200,000). The shares are subject to a hold period of four months and one day. Contact information for further inquiries is provided.

Vancouver, British Columbia--(Newsfile Corp. - January 23, 2024) - Meryllion Resources Corporation (CSE: MYR) ("Meryllion" or the "Company") is pleased to announce that, further to its press release of January 15, 2024, it has made the option exercise payment in respect of the rare earth exploration leases held by Tasmania Strategic Green Metals Pty Ltd. ("TSGM") and Westbury Resources Pty Ltd. ("Westbury") in Tasmania. The payment was made by way of issuance of an aggregate of 4,186,046 common shares to TSGM and Westbury at a deemed issue price of CAD$0.043 per share for total consideration of CAD$180,000 (AUD$200,000).

All shares issued are subject to a hold period equal to 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

Investor Relations
Jorge@jeminicapital.com
 +1-647-725-3888 ext. 704

+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/195296

FAQ

What is the latest announcement from Meryllion Resources Corporation (CSE: MYR)?

Meryllion Resources Corporation has made the option exercise payment for rare earth exploration leases in Tasmania, issuing 4,186,046 common shares at a deemed price of CAD$0.043 per share, totaling CAD$180,000 (AUD$200,000).

How many common shares were issued by Meryllion Resources Corporation (CSE: MYR) for the option exercise payment?

Meryllion Resources Corporation issued 4,186,046 common shares for the option exercise payment.

What is the deemed issue price per share for the common shares issued by Meryllion Resources Corporation (CSE: MYR)?

The deemed issue price per share for the common shares issued by Meryllion Resources Corporation is CAD$0.043.

What is the total consideration for the common shares issued by Meryllion Resources Corporation (CSE: MYR)?

The total consideration for the common shares issued by Meryllion Resources Corporation is CAD$180,000 (AUD$200,000).

What is the hold period for the shares issued by Meryllion Resources Corporation (CSE: MYR)?

The shares issued are subject to a hold period of four months and one day.