Morien Announces Quarterly Dividend
Morien Announces Quarterly Dividend
June 8, 2018 – Halifax, Nova Scotia – Morien Resources Corp. ("Morien" or the "Company")
(TSXV:MOX), is pleased to announce that its Board of Directors (the "Board") has declared a
dividend of $0.0025 (one quarter of one cent) per common share for the second quarter of 2018.
The dividend will be paid on June 29, 2018 to shareholders of record at the close of business on
June 15, 2018.
It is Morien’s current inte ntion that in 2018 it will pay quarterly dividends of $0.0025 per
common share. Beyond 2018, as the Donkin Coal Mine scales up production, it is anticipated
that quarterly dividends will be calculated as a high percentage of cash flow available for
distribution, having regard to the stability of cash flow and the need to maintain flexibility to
secure new royalty assets. However, the declaration, amount and timing of any future dividends
remain at the discretion of the Board.
Future dividends will be subject to the Board's determination that the payment of a dividend is in
the best interest of Morien and its shareholders, having regard to the Company’s cash reserves,
anticipated financial requirements, legal requirements for the declaration of dividends and other
conditions existing at such time, including forward production guidance from Kameron
Collieries ULC, owner and operator of the Donkin Coal Mine.
The Company’s dividend payments will qualify as an ‘eligible dividend' for Canadian income
tax purposes.
About Morien
Morien is a Canadian based, dividend paying, mining development company that holds royalty
interests in two, long life, world class, tidewater accessed projects. The Donkin Coal Mine
commenced production in Q1 2017 and the Black Poin t Aggregate Project was permitted in Q2
2016 and is progressing toward a development decision. Morien’s management team exercises
ruthless discipline in managing both the assets and liabilities of the Company. The Company’s
management and its Board of Di rectors consider shareholder returns to be paramount over
corporate size, number or scale of assets and industry recognition. Morien has 53,618,114 issued
and outstanding common shares and a fully diluted position of 58, 060,614. Further information
is available at www.MorienRes.com.
Forward-Looking Statements
Some of the statements in this news release may constitute "forward -looking information" as
defined under applicable securities laws. These statements reflect Morien's current expectations
of future revenues and business prospects and opportunities and are based on information
currently available to Morien. Morien cautions that actual performance will be affected by a
number of factors, many of which are beyond its control, and that future eve nts and results may
vary substantially from what Morien currently foresees. Factors that could cause actual results to
differ materially from those in forward -looking statements include risks and uncertainties
described in Morien’s annual information form filed with the Canadian Securities regulators on
SEDAR (www.sedar.com) on March 1, 2017 . Morien cautions that its royalty revenue will be
based on production by third party property owners and o perators who will be responsible for
determining the manner and timing for the properties forming part of Morien’s royalty portfolio.
These third party owners and operators are also subject to risk factors that could cause actual
results to differ materia lly from those predicted herein including: volatility in financial markets
or general economic conditions; capital requirements and the need for additional financing;
fluctuations in the rates of exchange for the currencies of Canada and the United States; prices
for commodities including gold, coal and aggregate; unanticipated changes in production,
mineral reserves and mineral resources, metallurgical recoveries and/or exploration results;
changes in regulations and unpredictable political or economic dev elopments; loss of key
personnel; labour disputes; and ineffective title to mineral claims or property. There are other
business risks and hazards associated with mineral exploration, development and mining.
Although Morien believes that the forward -looking information contained herein is based on
reasonable assumptions, readers cannot be assured that actual results will be consistent with such
statements. Morien expressly disclaims any intention or obligation to update or revise any
forward-looking information in this news release, whether as a result of new information, events
or otherwise, except in accordance with applicable securities laws. All dollar values discussed
herein are in Canadian dollars. Any financial outlook or future-oriented financial information in
this news release, as defined by applicable securities laws, has been approved by management of
Morien as of the date of this news release. Such financial outlook or future -oriented financial
information is provided for the purpose of provi ding information about management's current
expectations and plans relating to the future. Readers are cautioned that such outlook or
information should not be used for purposes other than for which it is disclosed in this news
release.
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.
For more information, please contact:
John P.A. Budreski, Chairman and CEO
Phone: (416) 930-0914
or
Dawson Brisco, P.Geo, President
Phone: (902) 403-3149
www.MorienRes.com