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Welcome to Meritus Minerals
Meritus Minerals Ltd., listed on the Toronto Stock Exchange (Venture Board) (stock symbol: MER), is in the business of acquiring, exploring and developing mineral resource properties with a commodity focus on gold and base-metals.
Our philosophy is to acquire licenses over favorable exploration ground, in which through our subsidiaries we will own 100% or majority interest, and to seek joint venture participation in these areas once targets have been established by our own efforts.
Meritus is also seeking opportunities to participate in more advanced projects, particularly worthwhile drill programs where other parties needing finance have established attractive gold and / or base-metal targets.
The company is focusing on projects in Mongolia, has interests in Australia, and is reviewing opportunities in South East Asia.
Issued shares:
33,251,953 common shares issued as at 31 March 2010
Shares in escrow:
1,680,000 common shares were held in escrow as at 31 March 2010 and will be released on 15th September 2010. These escrow shares may not be transferred, assigned or otherwise dealt with without the consent of regulatory authorities.
Stock options:
The Company has adopted an incentive stock option plan (the “Option Plan”) which provides that the Board of Directors of the Company may from time to time, in its discretion, and in accordance with TSX-V requirements, grant to directors, officers, employees and technical consultants to the Company, non-transferable options to purchase common shares, provided that the number of common shares reserved for issuance will not exceed 20% of the issued and outstanding common shares. Such options will be exercisable for a period of up to 5 years from the date of grant. Option vesting terms are decided by the Board of Directors at the time of grant.
