NEWS RELEASE 09-12
Merit Mining Corp. Shares for Debt Proposal to Debentureholders Rejected
October 20, 2009 – Vancouver, British Columbia. Merit Mining Corp. (TSX-V:MEM) reports
that the Company’s proposal (NR 09-11 dated October 16, 2009) to settle debt held in the form of secured convertible debentures in the principal amount of $8,198,411 plus accrued interest, at the deemed price of $0.295 per share, after giving effect to certain agreed discounts on the debentures, has been rejected by certain of the debentureholders.
Negotiations with the debentureholders are continuing as Company management and directors work to complete the restructuring of the Company.
Merit Mining Corp.
Signed “Fred Sveinson”
Fred Sveinson, President & CEO
For further information please contact:
Fred Sveinson at (604) 694-2344
