Morien Resumes Quarterly Dividend Program
Morien Resumes Quarterly Dividend Program
November 30, 2022 – Halifax, Nova Scotia – Morien Resources Corp. ("Morien" or the
"Company") (TSX-V:MOX), is pleased to announce that as part of the Company’s strategy to
maximize shareholder value, its board of directors (the “Board”) has approved the reinstatement
of paying dividends.
The Board has declared a special dividend of CAD $0.005 per common share payable on
December 20, 2022, to shareholders of record as at the close of business on December 12, 2022.
It is the Company’s current intention that in the first quarter of 2023 it will resume payment of
quarterly dividends of $0.0025 per common share. Beyond 2023, as the Donkin Coal Mine scales
up production, it is anticipated that quarterly dividends will be calculated in relation to cash flow
available for distribution, having regard to the stability of cash flow and the need to maintain
flexibility to secure new royalty assets.
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 coal production guidance from Kameron
Collieries ULC, owner/operator of the Donkin Coal Mine.
About Morien
Morien is a Canada-based, mining development company that holds royalty interests in two
tidewater accessed projects. The Donkin Coal Mine recommenced production in 2022, and the
Black Point Aggregate Project, permitted in 2016, is awaiting a development decision and is
paying advanced minimum royalties to Morien. Morien’s management team exercises ruthless
discipline in managing both the assets and liabilities of the Company. The Company’s
management and its Board consider shareholder returns to be paramount over corporate size,
number or scale of assets and industry recognition. The Company has 50, 636,114 issued and
outstanding common shares and a fully diluted position of 54,811,114. 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 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 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
documents filed by Morien with the Canadian securities regulators on SEDAR (www.sedar.com)
from time to time. Morien cautions that its royalty revenue will be based on production by third
party property owners and operators 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 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 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
exploration, development and mining. Although Morien believes that the forward -looking
information contained herein is based on reasonable assumptions (including assumptions relating
to economic, market and political conditions, the Company’s working capital requirements and
the accuracy of information supplied by the operators of the properties in which the Company has
a royalty interest), 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 providing 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:
Dawson Brisco, President & CEO
Phone: (902) 403-3149
or
John P.A. Budreski, Executive Chairman
Phone: (416) 930-0914