Meridian Mining Announces Private Placement
Meridian Mining Announces Private Placement
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SER VICES OR FOR DISSEMINATION
IN THE UNITED STATES/
AMSTERDAM, The Netherlands, Feb. 10, 2017 /CNW/ - M eridian Mining S.E. (TSX V: MNO) ("Meridian"
or the "Company"), today announced that it has entered into an agreement with Paradigm Capital Inc.
(the "Agent") under which the Agent has agreed to act as agent in connection with a best efforts private
placement offering (the "Private Placement") of units (the "Units") of the Company at a price of C$0.7 0
per Unit (the "Issue Price") for aggregate proceeds of up to C$9 million. Each Unit will be comprised of
one common share of the Company (a "Share") and one half of one common share purchase warrant
(each whole warrant a "Warrant"). Each Warrant will be exercisable for one Share for 24 months at a
price to be determined in the context of the market .
The Agent has also been granted an option to increase the size of the Private Placement by up to 15% o f
the base offering size, which option shall be exercisable until two business days prior the closing date.
The net proceeds from the Private Placement will be used to fund exploration and development activities
at the Company's BMC project and recently acquired Bom Futuro project in northwestern Brazil, including
financing the construction of a 69kV power transmis sion line at Bom Futuro which is required under the
Investment Agreement relating to Bom Futuro followi ng the completion of the Company's technical audit
and due diligence. Certain proceeds may also be us ed for general corporate purposes.
The Agent will receive a cash commission on the sale of the Units equal to 7% of the aggregate gross
proceeds of the Units sold by the Agent as well as that number of compensation options (the
"Compensation Options") equal to 7% of the number o f Units placed by the Agent. Each Compensation
Option will be exercisable for one common share of the Company for 24 months at the Issue Price.
The Units will be offered for sale in all the provinces of Canada to qualified purchasers, and in such other
jurisdictions as may be determined between the Company and the Agent. This Private Placement is
subject to certain conditions including regulatory approvals and specifically, the approval of the TSX
Venture Exchange.
On behalf of the Board of Directors of
Meridian Mining S.E.
"Anthony Julien"
Anthony Julien
President, CEO and Director
ABOUT MERIDIAN
Meridian Mining S.E. is focused on acquisition, exp loration, development and mining activities in Brazil.
The Company is currently focused on exploring and d eveloping the BMC 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 reg ional
exploration program. Meridian is currently producing high grade manganese at its project located at
Espigão de 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 inc lude, 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 wil l
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 legislat ion.
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 BMC man ganese project has not been established.
The TSX Venture Exchange has in no way passed upon the merits of the proposed Private Placement
and has neither approved nor disapproved the conten ts 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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For further information: Nick Hurst, 416-586-1942, [email protected]
CO: Meridian Mining S.E.
CNW 07:00e 10-FEB-17