Meryllion Resources Secures CAD$195,000 Loan from Director

An update from Meryllion Resources ( (TSE:MYR) ) is now available.

Meryllion Resources Corporation, a company listed on the Canadian Securities Exchange, has announced a related party loan agreement with director David Steinepreis for CAD$195,000. The loan, which is unsecured and bears a 6% annual interest rate, will be used to address accrued liabilities and support working capital. This transaction is a related party transaction under Multilateral Instrument 61-101, but the company has utilized exemptions from certain requirements due to its market capitalization.

Spark’s Take on TSE:MYR Stock

According to Spark, TipRanks’ AI Analyst, TSE:MYR is a Underperform.

Meryllion Resources faces significant financial and operational challenges with no revenue and negative equity. The recent private placements provide a slight improvement in capital but do not offset the fundamental risks. The stock’s valuation is hindered by a negative P/E ratio, and technical analysis indicates a bearish trend.

To see Spark’s full report on TSE:MYR stock, click here.

More about Meryllion Resources

Average Trading Volume: 22,128

Technical Sentiment Signal: Buy

Current Market Cap: C$2.26M

See more insights into MYR stock on TipRanks’ Stock Analysis page.