Meridian Mining Announces Results of General Meeting of Shareholders and Warrant Exercise Update

Rhea-AI Summary

Meridian Mining UK S (OTCQB: MRRDF) announced the results of its General Meeting of Shareholders on December 30, 2022, where 73,819,095 common shares (40.39% of total shares) were voted. Key resolutions included authorizing the Board to allot shares and disapply pre-emptive rights, both receiving over 99% approval. Additionally, since October 1, 2022, Meridian has seen the exercise of 4,484,063 warrants, generating CAD $1.345 million for ongoing resource exploration and general working capital. Currently, 186,083,619 shares are outstanding.

Positive

• Over 99% shareholder approval for key resolutions at the General Meeting.
• Successful exercise of 4,484,063 warrants, generating CAD $1.345 million for resource exploration.

Negative

• None.

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LONDON, UK / ACCESSWIRE / December 30, 2022 / Meridian Mining UK S (TSX:MNO) (Frankfurt/Tradegate:2MM) (OTCQB:MRRDF) ("Meridian" or the "Company"), announces the voting results from the Company's General Meeting of Shareholders held on Friday, December 30, 2022 (the "Meeting"). A total of 73,819,095 common shares were voted, representing 40.39% of the Company's issued and outstanding common shares as at the record date of December 2, 2022. Each of the matters voted upon is discussed in detail in the Company's Management Information Circular dated December 2, 2022, which can be found under the Company's profile on SEDAR at www.sedar.com. Voting was conducted by way of a poll of votes. Total votes received from shareholders by the Company either in advance of or as voted for at the Meeting, were as set out below:

Resolution	Votes for	%	Votes against	%
Authorize the Board to allot shares	73,650,932	99.77	168,163	0.23
Authorize the Board to Disapply pre-emptive rights	73,606,670	99.71	212,425	0.29

The Company is also pleased to announce that since October 1, 2022, a total of 4,484,063 warrants (the "Warrants") issued in connection with the unit private placement financing (the "Private Placement") completed on December 21, 2020, have been exercised, resulting in aggregate proceeds to Meridian of CAD $1.345 million. The Warrants expired on December 21, 2022 (the "Expiry Date"). Each Warrant was exercisable into one common share of the Company at a price of CAD $0.30 per common share. No commission was paid in connection with the exercise of the Warrants. Proceeds have been and will be used for the Company's ongoing resource delineation and exploration programs and for general working capital purposes. As at the Expiry Date, the Company has a total of 186,083,619 shares issued and outstanding.

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)

Stay up to date by subscribing for news alerts here: https://meridianmining.co/contact/
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, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. There is some risk that the forward-looking statements will not prove to be accurate, that the management's assumptions may not be correct or that actual results may differ materially from such forward-looking statements. Accordingly, readers should not place undue reliance on the forward-looking statements.

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/733615/Meridian-Mining-Announces-Results-of-General-Meeting-of-Shareholders-and-Warrant-Exercise-Update

FAQ

What were the voting results of Meridian Mining's General Meeting on December 30, 2022?

A total of 73,819,095 common shares were voted, representing 40.39% of the issued shares, with key resolutions receiving over 99% approval.

How much capital did Meridian Mining raise from the recent warrant exercise?

Meridian Mining raised CAD $1.345 million from the exercise of 4,484,063 warrants since October 1, 2022.

What is the significance of the approved resolutions at Meridian Mining's General Meeting?

The approved resolutions authorize the Board to allot shares and disapply pre-emptive rights, enabling capital flexibility for the company.

How many shares are outstanding for Meridian Mining as of December 2022?

As of December 2022, Meridian Mining has a total of 186,083,619 shares outstanding.