Meridian Announces Closing of CAD 17.2 Million Oversubscribed Non-Brokered Private Placement
Meridian Mining has successfully closed its oversubscribed non-brokered private placement, raising CAD 17.2 million through the issuance of 44,187,432 common shares at CAD 0.39 per share. Company insiders participated by purchasing 279,744 shares, constituting a related party transaction exempt from formal valuation requirements as it was below 25% of market capitalization.
The proceeds will be used to advance the Cabaçal Au-Cu-Ag VMS project in Brazil, specifically for PFS advancement, FS initiation, resource exploration activities, and working capital. The issued shares are subject to a four-month hold period until June 20, 2025, pending final Toronto Stock Exchange approval.
Meridian Mining ha concluso con successo il suo collocamento privato non mediato, raccogliendo 17,2 milioni di CAD attraverso l'emissione di 44.187.432 azioni ordinarie a CAD 0,39 per azione. I membri interni dell'azienda hanno partecipato acquistando 279.744 azioni, costituendo una transazione con parti correlate esente da requisiti di valutazione formale poiché era al di sotto del 25% della capitalizzazione di mercato.
I proventi saranno utilizzati per sviluppare il progetto VMS Au-Cu-Ag di Cabaçal in Brasile, specificamente per l'avanzamento del PFS, l'avvio del FS, le attività di esplorazione delle risorse e il capitale circolante. Le azioni emesse sono soggette a un periodo di blocco di quattro mesi fino al 20 giugno 2025, in attesa dell'approvazione finale della Borsa di Toronto.
Meridian Mining ha cerrado con éxito su colocación privada no mediada, recaudando 17,2 millones de CAD a través de la emisión de 44.187.432 acciones ordinarias a CAD 0,39 por acción. Los miembros internos de la empresa participaron comprando 279.744 acciones, constituyendo una transacción con partes relacionadas exenta de requisitos de valoración formal ya que estaba por debajo del 25% de la capitalización de mercado.
Los ingresos se utilizarán para avanzar en el proyecto VMS Au-Cu-Ag de Cabaçal en Brasil, específicamente para el avance del PFS, la iniciación del FS, las actividades de exploración de recursos y el capital de trabajo. Las acciones emitidas están sujetas a un período de retención de cuatro meses hasta el 20 de junio de 2025, a la espera de la aprobación final de la Bolsa de Valores de Toronto.
Meridian Mining은 비중개 사모 배정을 성공적으로 마감하였으며, 1720만 CAD를 모금했습니다. 이는 CAD 0.39의 가격으로 44,187,432주를 발행한 것입니다. 회사 내부자들은 279,744주를 구매하며 참여하였으며, 이는 시장 자본의 25% 미만으로 공식 평가 요건이 면제되는 관련 당사자 거래를 구성합니다.
수익금은 브라질의 Cabaçal Au-Cu-Ag VMS 프로젝트를 발전시키는 데 사용될 예정이며, 구체적으로 PFS 진행, FS 시작, 자원 탐사 활동 및 운영 자본에 사용됩니다. 발행된 주식은 2025년 6월 20일까지 4개월의 보유 기간이 있으며, 토론토 증권 거래소의 최종 승인을 기다리고 있습니다.
Meridian Mining a réussi à clôturer son placement privé non médié, ayant levé 17,2 millions de CAD grâce à l'émission de 44.187.432 actions ordinaires au prix de 0,39 CAD par action. Les initiés de l'entreprise ont participé en achetant 279.744 actions, constituant une transaction entre parties liées exemptée des exigences d'évaluation formelle car elle était inférieure à 25 % de la capitalisation boursière.
Les produits seront utilisés pour faire avancer le projet VMS Au-Cu-Ag de Cabaçal au Brésil, spécifiquement pour l'avancement du PFS, le début du FS, les activités d'exploration des ressources et le fonds de roulement. Les actions émises sont soumises à une période de blocage de quatre mois jusqu'au 20 juin 2025, en attente de l'approbation finale de la Bourse de Toronto.
Meridian Mining hat erfolgreich seine überzeichnete nicht vermittelte Privatplatzierung abgeschlossen und 17,2 Millionen CAD durch die Ausgabe von 44.187.432 Stammaktien zu je CAD 0,39 pro Aktie gesammelt. Unternehmensinsider haben teilgenommen, indem sie 279.744 Aktien gekauft haben, was eine Transaktion mit verbundenen Parteien darstellt, die von formellen Bewertungsanforderungen befreit ist, da sie unter 25 % der Marktkapitalisierung lag.
Die Erlöse werden verwendet, um das Cabaçal Au-Cu-Ag VMS-Projekt in Brasilien voranzutreiben, insbesondere für den Fortschritt der PFS, den Beginn der FS, Ressourcenexplorationsaktivitäten und Betriebskapital. Die ausgegebenen Aktien unterliegen einer viermonatigen Haltedauer bis zum 20. Juni 2025, vorbehaltlich der endgültigen Genehmigung der Toronto Stock Exchange.
- Raised CAD 17.2 million through oversubscribed private placement
- Strong investor support including institutional and retail shareholders
- Insider participation demonstrates management confidence
- Share dilution from issuance of 44.2 million new shares
- Four-month lock-up period for new shares
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
LONDON, UK / ACCESS Newswire / February 19, 2025 / Meridian Mining UK S (TSX:MNO)(Frankfurt/Tradegate:2MM)(OTCQX:MRRDF) ("Meridian" or the "Company") is pleased to announce that it has closed its previously announced non-brokered private placement (the "Private Placement") of common shares (the "Common Shares") (see news releases January 28, 2025 and February 4, 2025). Pursuant to the Private Placement, the Company has issued 44,187,432 Common Shares at a price of CAD 0.39 for gross proceeds to the Company of CAD 17,233,098.
Gilbert Clark, CEO, states: "I would like to thank Meridian's institutional and retail shareholders, both existing and new, for their ongoing support as we advance the Cabaçal Au-Cu-Ag VMS project towards it becoming Brazil's next near term mine developement."
Insiders of the Company participated in the Private Placement and purchased an aggregate of 279,744 Common Shares. Participation of such insiders in the Private Placement constituted a "related party transaction" as defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"), but was exempt from the formal valuation and minority shareholder approval requirements of MI 61-101, as neither the fair market value of the securities issued to the insiders nor the consideration paid by the insiders exceeded
The net proceeds from the Private Placement are expected to be used in advancing the Cabaçal's PFS, initiate the FS and related programs as well as associated resource and exploration activities of the broader Cabaçal Au-Cu-Ag VMS belt, regional targeting, and for working capital and general corporate purposes.
The Common Shares issued pursuant to the Private Placement are subject to a four-month hold period expiring on June 20, 2025. The Private Placement is subject to final approval of the Toronto Stock Exchange.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or the securities laws of any state of the United States and may not be offered or sold within the United States (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.
About Meridian
Meridian Mining is focused on:
The development and exploration of the advanced stage Cabaçal VMS gold‐copper project;
The initial resource definition at the second higher-grade VMS asset at Santa Helena as the first stage of the Cabaçal Hub development strategy;
Regional scale exploration of the Cabaçal VMS belt to expand the Cabaçal Hub strategy; and
Exploration in the Jaurú & Araputanga Greenstone belts (the above all located in the State of Mato Grosso, Brazil).
The Preliminary Economic Assessment technical report (the "PEA Technical Report") dated March 30, 2023, entitled: "Cabaçal Gold-Copper Project NI 43-101 Technical Report and Preliminary Economic Assessment, Mato Grosso, Brazil" outlines a base case after-tax NPV5 of USD 573 million and
The Cabaçal Mineral Resource estimate consists of Indicated resources of 52.9 million tonnes at 0.6g/t gold,
Readers are encouraged to read the PEA Technical Report in its entirety. The PEA Technical Report may be found on the Company's website at www.meridianmining.co and under the Company's profile on SEDAR+ at www.sedarplus.ca.
The qualified persons for the PEA Technical Report are: Robert Raponi (P. Eng), Principal Metallurgist with Ausenco Engineering), Scott Elfen (P. E.), Global Lead Geotechnical and Civil Services with Ausenco Engineering), Simon Tear (PGeo, EurGeol), Principal Geological Consultant of H&SC, Marcelo Batelochi, (MAusIMM, CP Geo), Geological Consultant of MB Geologia Ltda, Joseph Keane (Mineral Processing Engineer; P.E), of SGS, and Guilherme Gomides Ferreira (Mine Engineer MAIG) of GE21 Consultoria Mineral.
On behalf of the Board of Directors of Meridian Mining UK S
Mr. Gilbert Clark - CEO and Director
Meridian Mining UK S
8th Floor, 4 More London Riverside
London SE1 2AU
United Kingdom
Email: info@meridianmining.co
Ph: +1 778 715-6410 (BST)
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Further information can be found at: www.meridianmining.co
Qualified Person
Mr. Erich Marques, B.Sc., FAIG, Chief Geologist of Meridian Mining and a Qualified Person as defined by National Instrument 43-101, has reviewed, and verified the technical information in this news release.
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 address future events and conditions and so involve inherent risks and uncertainties, as disclosed under the heading "Risk Factors" in Meridian's most recent Annual Information Form filed on www.sedarplus.ca. While these factors and assumptions are considered reasonable by Meridian, in light of management's experience and perception of current conditions and expected developments, Meridian can give no assurance that such expectations will prove to be correct. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Meridian disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events, or results or otherwise.
SOURCE: Meridian Mining UK S
View the original press release on ACCESS Newswire
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