Morien Announces Renewal of Normal Course Issuer Bid
Morien Announces Renewal of Normal Course Issuer Bid
January 30, 2019 – 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 acquire up to 4, 083,300 common shares, representing
approximately 10% of the public float of Morien as of January 29, 2019. In the opinion of the
board of directors of Morien, its common shares have been t rading 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 enhance 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, 2018 to January 29, 2019, Morien purchased 1,731,500 of its common shares at
an average price per share of $0.54 under its current NCIB, which expires January 31, 2019.
As of January 29, 2019, the Company had 53,131,114 common shares outstanding, which has not
been adjusted for the 210,000 shares to be cancelled on January 31, 2019 as a result of purchases
made in January under the existing NCIB. Under TSX-V policies, Morien is entitled to purchase
up to 1,062,600 shares in any 30-day period up to the maximum of 4,083,300 shares.
Morien is authorized to make purchases between February 1, 201 9 and January 31, 20 20, 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 will be purchased and the timin g 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, world class , tidewater accessed projects. The Donkin Coal Mine
commenced production in 2017 and the Black Point Aggreg ate Project was permitted in 2016 and
is progressing towa rd a development decision. Morien’s management team exercises ruthless
discipline in managing both the assets a nd 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 53,131,114 issued
and outstanding common shares and a fully diluted position of 57, 523,614. 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 prospe cts 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 forese es. 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 April 26, 2016. 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 mann er 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 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 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 explo ration, 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 w ith 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 securit ies 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 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 providing information about management's current expectations and plans relating to
the future. Readers are cautioned that such outlook o r 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:
Dawson Brisco, President & CEO
Office: (902) 423-6419
Mobile: (902) 403-3149
or
John P.A. Budreski, Executive Chairman
Phone: (416) 930-0914
www.MorienRes.com