Meryllion Resources Announces Related Party Loan
Vancouver, May 21, 2024 - Meryllion Resources Corp. (CSE: MYR) (OTC PINK: MYRLF) ("Meryllion" or the "Company")wishes to announce that it has borrowed the sum of CAD$50,000 (the "Loan") from Croesus Mining Pty Ltd., a company controlled by Mr. David Steinepreis, a director of the Company. The Loan is unsecured, bears no interest and is repayable in full on or before May 14, 2025.
The Loan is a related party transaction pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). With respect to the Loan, the Company has relied on the exemption from the valuation requirement pursuant to Section 5.5(b) (issuer not listed on specified markets) of MI 61-101 and from the minority shareholder approval requirement prescribed by Section 5.7(1)(a) (fair market value not more than 25% of market capitalization) of MI 61-101.
There is no undisclosed material information by the Company. The Company has at least one independent director, and all independent directors have approved the Loan.
For further information, please contact:
Mr. Richard Revelins
Director and Chief Executive Officer
Meryllion Resources Corp.
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/209847