Meridian Announces International and Brazilian Internal Corporate Restructuring
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Meridian Announces International and Brazilian Internal Corporate Restructuring
January 10, 2020 /CNW/ - Meridian Mining SE (TSXV: MNO) ("Meridian" or the "Company") today
announces that its international corporate structure has been simplified following the completion of an
internal reorganization that dissolved its Dutch subsidiary Ferrometals BV. The Company’s other Brazilian
subsidiary Ferrometals Servicos Do Brasil Ltda. (Ferrometals Brazil), as well as Ferrometals Management
Services Canada Inc., which owns the shares of Ferrometals Brazil have been wound up in the
reorganization. The Company plans to establish two additional subsidiaries in Brazil, one to hold the
Company’s tin portfolio and the other to hold the Mirante da Serra project’s manganese tenements and
agreements. Meridian Mineração Jaburi S.A will hold only the mining and exploration titles for the
polymetallic project in Espigão.
Benefits of the corporate restructure
⮚ Simplified and streamlined international corporate structure which will be more attractive to new
investors
⮚ Expected yearly cash savings of USD 110,000
⮚ Simplified auditing process
⮚ Brazilian assets will be held by separate Brazilian entities based on the individual project which
provides greater flexibility for future financing and development
Mr Clark, Interim CEO & President, states, “the historically complexed corporate structure of Meridian
was a result of private and public mergers and acquisitions completed in late 2016. This legacy was
complicated, confusing to investors and required a high cost to maintain; this has been resolved. The
Brazilian portfolio will be further re-structured so that each of the three (Espigão - Polymetallic, Mirante
da Serra - manganese and Ariquemes - tin) projects will be held via separate Brazilian entities. The
Company’s new corporate structure will be more cost effective to maintain and more attractive to new
investors.”
Gilbert Clark
Interim CEO, President and Director
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 Espigao polymetallic project, the
Mirante da Serra manganese project and the Ariquemes tin exploration portfolio in the state of Rondônia,
Brazil.
Further information can be found at www.meridianmining.co.
FORWARD-LOOKING STATEMENTS
Some statements in this presentation 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, development and exploitation of its properties and
potential mineralisation. 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 risks and 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,
development and exploitation 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 or mineral resource estimate has been established. In particular,
because the Company's production decision relating to Meridian Mineracao Jaburi S.A, 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.