Meridian Announces Management Changes; Grant of Stock Options

Rhea-AI Summary

Meridian Mining UK S (OTCQB: MRRDF) has announced significant management changes, promoting Mr. Martin McFarlane to President and appointing Mr. James McLucas as Vice President of Corporate Development. McFarlane, with over 30 years in the resources sector, previously served as Head of Strategy. McLucas brings 15 years of investment banking experience, focusing on the mining industry. The company also granted stock options for 3,225,500 shares at C$0.50, exercisable for five years. The Board of Directors expressed confidence in the new leadership as they advance the Cabaçal project towards a Preliminary Economic Assessment (PEA).

Positive

• Promotion of Martin McFarlane as President brings extensive experience in mining and strategy.
• Appointment of James McLucas as Vice President adds investment banking expertise to the team.
• Granting of stock options may incentivize performance and align interests of management with shareholders.
• Board expresses confidence in leadership to advance the Cabaçal project towards a PEA.

Negative

• None.

LONDON, UK / ACCESSWIRE / January 30, 2023 / Meridian Mining UK S (TSX:MNO)(Frankfurt/Tradegate:2MM)(OTCQB:MRRDF) ("Meridian" or the "Company") is pleased to announce the promotion and appointment of Mr. Martin McFarlane as the Company's President, effective immediately. Dr. Adrian McArthur, who has served as the Company's President since July 2020, will continue to serve as the Company's Chief Executive Officer and Director of the Company. In addition, Mr. James McLucas, Manager of Corporate Development since November 2021, has been appointed as Vice President of Corporate Development.

Mr. McFarlane, who held the position of Head of Strategy for the Company since May 2022, has more than 30 years' resources experience primarily with major resource companies including Minerals and Metals Group, OZ Minerals Limited, Zinifex Limited, Pasminco Limited and Conzinc Rio Tinto of Australia, including 15 years of leadership overseeing the de-risking and advancement of numerous mining projects from early-stage exploration through start-up and operations. Mr. McFarlane has successfully worked with key stakeholders to achieve strategic goals including government, company boards, shareholders, communities, Indigenous groups, non-government organisations and industry groups. Martin has broad and deep exposure to all major resource industry activities including corporate communications, exploration, mine development, mining operations, smelting, safety and environment, finance, sales and marketing, strategy, mergers & acquisitions and business restructuring with international experience in Australia, North and South Americas, Europe and Asia.

Mr. McLucas brings over 15 years' experience in investment banking focused on the mining sector. Mr. McLucas has led global transactions through origination, valuation, structuring and execution. Focusing on raising equity and debt capital for TSX / ASX / LSE and private companies, funding companies from discovery, through development and into production.

The Company also announces the granting of stock options to Directors, officers, employees, and consultants of the Company to acquire an aggregate of 3,225,500 common shares of the Company, exercisable at C$0.50 per common share, for a period of 5 years.

"The Board of Directors is very pleased to promote Martin into the President's role and James to the role of Vice President of Corporate Development", stated Gilbert Clark Executive Chairman of the Board of Meridian Mining. "The Board is confident that as it moves the Cabaçal project towards the successful completion of the PEA, and beyond. Both Martin and James with their extensive and proven track record of industry experience will strengthen Meridian's Executive Team and contribute to the future success of the Company. " Mr. Clark also added "As Adrian continues his exceptional leadership role as the Company's Chief Executive Officer, I want to thank Adrian for his role as Company President."

About Meridian

Meridian Mining UK S is focused on the acquisition, exploration, and development activities in Brazil. The Company is currently focused on resource development of the Cabaçal VMS gold‐copper project, the regional scale exploration of the Cabaçal VMS belt, the exploration in the Jaurú & Araputanga Greenstone belts all located in the state of Mato Grosso and exploring the Espigão polymetallic project in the State of Rondônia Brazil.

On behalf of the Board of Directors of Meridian Mining UK S

Mr. Gilbert Clark
Executive Chairman
Meridian Mining UK S

Email: info@meridianmining.net.br
Ph: +1 (778) 715-6410 (PST)

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Follow Meridian on Twitter: https://twitter.com/MeridianMining
Further information can be found at: www.meridianmining.co

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 under the heading "Risk Factors" in Meridian's most recent Annual Information Form filed on www.sedar.com. 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 source version on accesswire.com:
https://www.accesswire.com/737183/Meridian-Announces-Management-Changes-Grant-of-Stock-Options

FAQ

What management changes were announced by Meridian Mining on January 30, 2023?

On January 30, 2023, Meridian Mining announced the promotion of Martin McFarlane to President and the appointment of James McLucas as Vice President of Corporate Development.

What is Martin McFarlane's background in the mining industry?

Martin McFarlane has over 30 years of resources experience and was previously Head of Strategy at Meridian. He has worked with major resource companies in various leadership roles.

What role does Adrian McArthur continue to play at Meridian Mining?

Adrian McArthur continues as the Chief Executive Officer and Director of Meridian Mining after serving as President since July 2020.

What stock options were granted by Meridian Mining?

Meridian Mining granted stock options to acquire 3,225,500 common shares at C$0.50 per share, exercisable over five years.

What project is Meridian Mining focusing on following the management changes?

Meridian Mining is focusing on advancing the Cabaçal project toward the successful completion of a Preliminary Economic Assessment (PEA).