Meridian Announces Private Placement and Corporate Update Meridian to advance its copper gold project at Espigão
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Meridian Announces Private Placement and Corporate Update
Meridian to advance its copper gold project at Espigão
May 11, 2020 - Meridian Mining SE (TSXV: MNO) ("Meridian" or the "Company") today announces a non-
brokered private placement financing of up to 50 million units at $0. 075 per unit (“Unit”) for gross
proceeds of up to $2,500,000 (the “Capital Raise”). Each Unit will consist of one common share of Meridian
and one non-transferable common share purchase warrant (“Warrant”). Each Warrant will be exercisable
to acquire one additional common share of Meridian at $0.11 for a period of two years from the date of
closing of the Capital Raise. The Company also announces that Dr Adrian McArthur will be assuming the
joint-CEO & President role of the Company with Mr Clark until the Capital Raise’s close, at which time Mr
Clark will step down from his interim roles but remain as a Director of the Company.
Highlights of the Capital Raise:
Meridian targets a capital raise of $2.5 million;
o Units priced at $0.075 per Unit; includes
o 1 common share
o 1 Warrant exercisable for an additional share at $0.11 valid for 2 years
Funds raised will be for advancing:
o Espigão copper gold polymetallic advanced exploration project;
o Exploration and resource Mn delineation programs at Mirante da Serra; and
o General working capital.
Restart of Brazilian exploration programs in a restructured debt-free entity.
With the restructure of all the Company’s debts by Sentient Global Resources Fund IV at $2.50 per share
and a small royalty , and the debt to equity of The Sentient Group’s loan , the incoming investors are
presented with a clean balance sheet and a tight and aligned capital structure. The Company is prepared
with its core management and technical team to launch into an exciting period of what it hopes will be
discovery and advancement of its Brazilian assets.
To lead this new advancement of the Company, Mr Clark will step down from the role of Interim CEO &
President at the closing of the Capital Raise . Dr Adrian McArthur the Company’s Chief Geologist will be
leading the Company from that point onwards as CEO. Mr Clark was brought in to s tabilise, restructure
and give focus to Meridian; this task is completed. He will remain associated with the Company as an
independent Director.
Mr Clark states, “the Company has been through a period of restructure and has come out leaner , more
focus and will post the raising be a well -financed mining junior . The advanced Espigão copper - gold
exploration project is the immediate focus and use of funds from the Capital Raise. Dr McArthur has been
active in the restructure and we have worked well during this challenging period. Most importantly he has
extensive knowledge of the Company’s projects and goals, while being an existing and well-respected team
member. As the Company is focusing on exploration and resource development, he is the perfect person
to lead the Company through this exciting new period for our shareholders.”
A presentation on the Capital Raise can be downloaded here: www.meridianmining.co
The net proceeds from the Capital Raise will be used to advance exploration work on the Meridian’s
Espigão copper gold project and the Mirante da Serra project in Brazil and for general working capital
purposes.
The securities issued under the Capital Raise will be subject to a four-month hold period from the date of
closing. The closing of the Capital Raise is subject to, among other things, acceptance from the TSX-V.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities
in the United States. The securities have not been and will not be registered under the United States
Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be
offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act
and applicable state securities laws or an exemption from such registration is available.
On behalf of the Board of Directors of Meridian Mining SE
Gilbert Clark
Interim CEO, President and Director
Meridian Mining S.E.
Ph: +1 778-715-6410 (PST)
Email: [email protected]
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 maintaining 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 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, 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 differen t 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 t o 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 d isapproved 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.