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Meritus Minerals Troy Mongolia Acquisition


Shares issued 53,610,067
MER Close 2011-01-18 C$ 0.17

The TSX Venture Exchange has accepted for filing documentation pertaining to a sale agreement between Meritus Minerals Ltd. and Troy Resources NL, whereby the company is acquiring the vendor's 100-per-cent-owned subsidiary, Troy Mongolia ALT Resources LLC. Troy Mongolia's assets include an 80-per-cent shareholding in another Mongolian company, Gutai Davaa LLC, various technical data, a database on gold in Mongolia and the results of a study carried out by the Centre for Exploration Targeting of the University of Western Australia, as well as exploration equipment.

In consideration, the company will pay $300,000 (U.S.), issue seven million shares over a 30-month period and issue seven million share purchase warrants entitling the vendor to purchase one common share of the company for a period of three years, at an exercise price of 25 cents if exercised during the first 12 months, 35 cents if exercised during the second 12 months and 50 cents if exercised during the last 12 months.

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