December 3, 2008 – Vancouver, British Columbia. Merit Mining Corp. (TSX-V:MEM) announces that it has today filed a Notice of Intention to Make a Proposal under the Bankruptcy and Insolvency Act (the “BIA”).
Further, Robert G. McMorran has resigned as Chief Financial Officer and Corporate Secretary of the Company, effective November 28, 2008. In addition, James Walchuck and Hans-Arne L’orange have resigned as Directors of the Company, effective November 28, 2008. Messrs. McMorran, Walchuck, and L’orange have all agreed to provide advisory services to the Company on an ongoing basis.
Further to the Company’s news release dated October 24, 2008 announcing the closing of the convertible debentures in the amount of $4,000,000, which comprised the first tranche of a convertible debenture financing of up to $5,000,000, the Company reports that there will be no additional closings.
Merit Mining Corp.
Signed “Fred Sveinson”
Fred Sveinson, President & CEO
For further information please contact:
Fred Sveinson at (604) 694-2344
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.The statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Company’s expectations. Certain risk factors may also affect the actual results achieved by the Company.