Merah Resources (ASX:MEH) is preparing to divulge details of a...

Merah Resources (ASX:MEH) is preparing to divulge details of a capital raising along with a material acquisition.

The ASX has granted Merah a trading halt.

The stock in Merah is very tightly held, with on 28.5 million fully paid shares in issue, with the top 20 holding close to 70%.

Merah has an interest in the Antubia Gold Project in Ghana.

The completion of the grant of the option over the project with Castle Minerals (ASX:CDT) occurred in late January 2014.

In consideration of the grant of the option Merah made a cash payment of A$85,000 and issued 2 million fully paid ordinary Merah shares to Castle Minerals.

The company can exercise the Antubia option at any time on or before the date that is 24 months from the date of completion of the grant of the option.

The halt will remain in place until the opening of trade on Friday 18th July 2014, or earlier if an announcement is made to the market.