Meridian Mining
The Offering included 4,800,000 Offered Shares issued pursuant to the full exercise of the over-allotment option by the Underwriters pursuant to the Underwriting Agreement.
Mr.
The Company intends to use the net proceeds to advance the development of the Cabacal project, regional exploration in the Cabacal district and exploration of other Brazilian projects, working capital and general corporate purposes.
An insider of the Company participated in the Offering and purchased an aggregate of 50,000 Offered Shares. Participation of the insider in the Offering constituted a 'related party transaction' as defined under Multilateral Instrument 61101 - Protection of Minority Security Holders in Special Transactions ('MI 61101'), but was exempt from the formal valuation and minority shareholder approval requirements of MI 61101, as neither the fair market value of the securities issued to the insider nor the consideration paid by the insider exceeded 25% of the Company's market capitalization. None of the Company's directors expressed any contrary views or disagreements with respect to the foregoing. The Company did not file a material change report 21 days prior to the closing of the Offering as the details of the participation of the insider of the Company had not been confirmed at that time.
The Offered Shares issued pursuant to the Offering were qualified for distribution by way of a prospectus supplement of the Company dated
The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the '
About Meridian
Meridian Mining
Contact:
Mr.
Executive Chairman
Meridian Mining
Tel: +1 (778) 7156410
Email: info@meridianmining.net.br
Forward-Looking Statements
Some statements in this news release contain forward-looking information or forward-looking statements for the purposes of applicable securities laws, including the anticipated use of proceeds, anticipated advancement of mineral properties or programs, future operations, and future development plans. In making the forward-looking statements, the Company has made several assumptions, including, but not limited to, assumptions concerning: production costs; that there is no material deterioration in general business and economic conditions; that the political environment in which the Company operates will continue to support the development and operation of mining projects; financial position and results of operations and/or cash flows. Although management of the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. 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. Such risks include, but are not limited to, risks related to the speculative nature of the Company's business, the Company's formative stage of development, and other risks and uncertainties disclosed under the headings 'Cautionary Note Regarding Forward-Looking Information' and 'Risk Factors' in the Prospectus Supplement, the Base Shelf Prospectus, and other disclosure documents available on the Company's profile at www.sedar.com. 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.
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