Morien Announces Renewal of Normal Course Issuer Bid
Morien Announces Renewal of Normal Course Issuer Bid
January 31, 2018 – Halifax, Nova Scotia – Morien Resources Corp. ("Morien" or the
"Company") (TSX-V:MOX), is pleased to announce that the TSX Venture Exchange ("TSX-V")
has accepted the Company's notice of intention to renew its normal course issuer bid (" NCIB") to
purchase outstanding common shares of Morien on the open market in accordance with the
policies of the TSX-V.
Pursuant to the NCIB, Morien may ac quire up to 4,200,000 common shares, representing
approximately 10% of the public float of Morien as of January 29, 2018. In the opinion of the
board of directors of Morien, its common shares have been trading at prices that do not reflect the
underlying value of the Company including its royalty portfolio, its strong financial position and
the growth opportunities. Accordingly, Morien believes that purchasing and returning its common
shares to treasury at present pricing represents an opportunity to enha nce value for its ongoing
shareholders. Morien's cash position allows for the implementation of the bid without adversely
affecting Morien's other opportunities.
From February 1, 2017 to January 29, 2018, Morien purchased 1,629,000 of its common shares a t
an average price per share of $0.60 under its most recently expired NCIB.
As of January 29, 2018, the Company had 54,402,614 common shares outstanding. Under TSX-V
policies, Morien is entitled to purchase up to 1,088,000 shares in any 30 -day period up to the
maximum of 4,200,000 shares.
Morien is authorized to make purchases between February 1, 2018 and January 31, 2019, or on
such earlier date as the NCIB is complete or is terminated at the option of Morien. T he actual
number of common shares which w ill be purchased and the timing of any such purchases will be
determined by the Company. All shares purchased by the Company will be on the open market
through the facilities of TSX -V by National Bank Financial Inc. acting on behalf of Morien in
accordance with the policies of the TSX -V and will be surrendered by the Company to its transfer
agent for cancellation. The prices that Morien will pay for any of the common shares purchased
will be the market price of the shares at the time of acquisition.
About Morien
Morien is a Canada based, dividend paying, mining development company that holds royalty
interests in two , long life, top tier, tidewater -accessed projects. The Donkin Coal Mine
commenced production in Q1 2017 and the Black Point 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 Directors consider shareholder returns to be paramount over
corporate size, number or scale of assets and industry recognition. Morien has 54,402,614 issued
and outstanding common shares and a fully diluted position of 56,560,114. 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 bu siness 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 events 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 Canadi an Securities regulators on
SEDAR (www.sedar.com). 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 materially
from those predicted herein including: volatility in finan cial 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; un anticipated changes in production, mineral reserves and mineral
resources, metallurgical recoveries and/or exploration results; changes in regulations and
unpredictable political or economic developments; 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 assump tions, 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 infor mation, events or otherwise, except in accordance with
applicable securities laws. All dollar values discussed herein are in C anadian dollars. Any
financial outlook or future -oriented financial information in this news release, as defined by
applicable se curities 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 providing information about management's current expectations and p lans 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 t erm 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, President and CEO
Phone: (416) 930-0914
or
Dawson Brisco, P.Geo, VP Corporate Development
Phone: (902) 466-7255
www.MorienRes.com