Meridian announces extension of Loan Facilities
Meridian announces extension of Loan Facilities
LONDON, March 29, 2018 /CNW/ - Meridian Mining SE (TSX V: MNO) ("Meridian " or the
"Company") today announced it has extended each of the existing loan facilities aggregating US$12
million from Sentient Global Resources Fund IV LP and The Sentient Group Limited (collectively,
"Sentient") to September 30, 2018.
"The extension of the loan facilities gives the Company the working capital to continue the development of
the manganese business with our free cash flow," said Anthony Julien, President and CEO of Meridian.
"Our customers are demanding more product and now that the Jaburi plant upgrade is completed we will
be looking to expand our production capacity up to 100,000 tonnes per annum with increased export and
domestic sales."
Sentient has agreed to extend the non-arm's length loan facilities by 5 months to mature on September
30, 2018. All other terms remain the same. The loan bears interest at a rate of 10% per annum.
The amendment of the loan facility constitutes a "related party transaction" for purposes of Multilateral
Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The
transaction is not subject to the valuation requirement of MI 61-101 as it is an amendment of existing
credit facilities and is exempt from the minority approval requirement of MI 61-101 in accordance with
section 5.7(f) by virtue of the fact that the loans do not involve any equity component and are not less
advantageous to the Company than if the loans were obtained by arm's length parties.
On behalf of the Board of Directors of
Meridian Mining SE
"Anthony Julien"
Anthony Julien
President, CEO and Director
For more information please contact visit the Company's website at www.meridianmining.co
ABOUT MERIDIAN
Meridian Mining SE is focused on the acquisition, exploration, development and mining activities in Brazil.
The Company is currently focused on exploring and developing the Espigão manganese project, the Bom
Futuro tin JV area, and adjacent areas in the state of Rondônia. The Company employs a two-pronged
strategy with the objective of growing pilot production while advancing a parallel multi-commodity regional
exploration program. Meridian is currently producing high grade manganese at its project located at
Espigão do Oeste.
Further information can be found at www.meridianmining.co.
FORWARD-LOOKING STATEMENTS
Some statements in this news release contain forward-looking information or forward-looking statements
for the purposes of applicable securities laws. These statements include, among others, statements with
respect to the Company's plans for exploration and development of its properties and potential
mineralization. These statements address future events and conditions and, as such, involve known and
unknown risks, uncertainties and other factors, which may cause the actual results, performance or
achievements to be materially different from any future results, performance or achievements expressed
or implied by the statements. Such risk factors include, among others, failure to obtain regulatory
approvals, failure to complete anticipated transactions, the timing and success of future exploration and
development activities, exploration and development risks, title matters, inability to obtain any required
third party consents, operating hazards, metal prices, political and economic factors, competitive factors,
general economic conditions, relationships with strategic partners, governmental regulation and
supervision, seasonality, technological change, industry practices and one-time events. In making the
forward-looking statements, the Company has applied several material assumptions including, but not
limited to, the assumptions that: (1) the proposed exploration and development of mineral projects will
proceed as planned; (2) market fundamentals will result in sustained metals and minerals prices and (3)
any additional financing needed will be available on reasonable terms. The Company expressly disclaims
any intention or obligation to update or revise any forward-looking statements whether as a result of new
information, future events or otherwise except as otherwise required by applicable securities legislation.
The Company cautions that it has not completed any feasibility studies on any of its mineral properties,
and no mineral reserve estimate has been established. In particular, because the Company's production
decision relating to BMC's manganese project is not based upon a feasibility study of mineral reserves,
the economic and technical viability of the Espigão manganese project has not been established.
The TSX Venture Exchange has neither approved nor disapproved the contents of this news
release. Neither 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.
SOURCE Meridian Mining S.E.
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%SEDAR: 00040264E
For further information: Anthony Julien, CEO, mob: +61 447 573 071, email:
[email protected], web: meridianmining.co
CO: Meridian Mining S.E.
CNW 07:00e 29-MAR-18