Meridex Closes Non-Brokered Private Placement for C$690,000
Meridex Software Corp. (TSX VENTURE:MSC.H) (the "Company" or "MSC") further to
its release of April 3, 2014 is pleased to announce it has closed its
non-brokered private placement (the "Financing") for 2,760,000 units at a price
of $0.25 per unit, ("Unit") for aggregate gross proceeds of CDN $690,000. Each
Unit will consist of one common share and one non-transferable share purchase
warrant (a "Warrant"). Each Warrant will be exercisable by the holder to acquire
one additional common share at a price of $0.50 for a period of twelve (12)
months following the closing of the financing. The Warrants are subject to an
accelerated expiry which comes into effect once the shares trade above a
weighted average price of $0.75 for any twenty consecutive trading-day period,
subsequent to four months from Closing. In the event of an accelerated expiry,
the expiry date will be the earlier of the regular 12 month expiry date and 30
days from the date the Company advises the placees of the accelerated expiry.
The proceeds from this private placement will be used for general working
capital purposes and a portion will be used to settle debt.
