Meridius Resources Completes $650,000 Initial Public Offering; Shares to Commence Trading on TSX-V, Symbol “MRI” on
Meridius Resources Completes $650,000 Initial Public Offering; Shares to Commence Trading on TSX-V, Symbol “MRI” on February 26, 2018
Vancouver, Canada – February 22, 2018 - Meridius Resources Limited (MRI: TSX-V) (“Meridius” or the “Company) is pleased to announce that it has completed a $650,000 initial public offering (“IPO”) of its common shares and listing as a Tier 2 company on the TSX Venture Exchange (“TSX-V”). Meridius’ common shares are expected to commence trading on the TSXV under the symbol “MRI” on February 26, 2018.
Haywood Securities Inc. (“Haywood”) acted as Meridius’ exclusive agent in respect of the IPO, which consisted of the issuance of 6,500,000 common shares (each, a “Share”) of the Company at a price of $0.10 per Share for initial gross proceeds of $650,000.
The gross proceeds of the IPO will be directed primarily to exploring Meridius’ Bonneville Gold Property, which is comprised of 36 mineral claims that cover approximately 2,018.29 hectares located 215 km north-east of the city of Val-d’Or and 70km north-east of the town of Lebel-sur- Quévillon in the province of Québec, and for working capital.
About Meridius Resources – Meridius is a mineral exploration company that is engaged in the business of the acquisition, exploration and development of mineral resource properties. The Company’s first project and core asset is the Bonneville Gold Property in Quebec. Meridius’ common shares trade under the symbol MRI on the TSX-V.
Contact Information - For more information, please contact:
Dylan Sidoo, Chief Executive Officer Tel: (604) 900- 5616 Fax: (604) 683-1585 Email: [email protected]
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein
Cautionary Note Regarding Forward-Looking Statements
This news release contains “forward-looking statements” within the meaning of the United States private securities litigation reform act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation. Such forward-looking statements and information herein include but are not limited to statements regarding the trading of Meridius’ common shares on the TSXV, the intended use of the proceeds of the IPO and the exploration of the Bonneville Gold Property. Meridius does not intend to, and does not assume any obligation to update such forward-looking statements or information, other than as required by applicable law.
Forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Meridius and its operations to be materially different from those expressed or implied by such statements. Such factors include, among others legislation, taxation, controls, regulations and political or economic developments in Canada; financial risks due to precious and base metals prices, operating or technical difficulties in mineral exploration, development and mining activities; risks and hazards of mineral exploration, development and mining; the speculative nature of mineral exploration and development, risks in obtaining necessary licenses and permits, and challenges to Meridius’ title to properties.
Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to: the continued operation of Meridius’ exploration operations, no material adverse change in the market price of commodities, and such other assumptions and factors as set out herein. Although Meridius has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or information, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward-looking statements or information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.