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AMSTERDAM, The Netherlands,
April 28, 2017 /CNW/ - Meridian
Mining S.E. (TSX V: MNO) ("Meridian" or the "Company"), today
announced that further to its press release dated February 10, 2017, in which it announced a
private placement offering (the "Private Placement") of units (the
"Units") of the Company, Meridian has amended the price per unit
from C$0.70 to C$0.40 per unit such
that the offering is now up to 11,250,000 Units for aggregate gross
proceeds of up to C$4,500,000. Each
Unit will be comprised of one common share of the Company (a
"Share") and one common share purchase warrant (each whole warrant
a "Warrant"). Each Warrant will entitle the holder thereof to
acquire one common share of the Company at an exercise price of
$0.65 for 24 months from the date of
issuance. The offering is expected to close in early May 2017. The Company has also agreed with
Paradigm Capital Inc. ("Paradigm") to complete the Private
Placement as a non-brokered placement.
![Meridian Mining S.E (CNW Group/Meridian Mining S.E.)](https://mma.prnewswire.com/media/495588/Meridian_Mining_S_E__Meridian_Mining_Updates_Terms_of_Private_Pl.jpg)
The net proceeds from the Private Placement will be used
alongside cash flow being generated by the Company's Jaburi
manganese project (formally BMC) and existing credit
facilities to fund exploration and development activities both
there and at the recently acquired Bom Futuro tin project in
northwestern Brazil. Certain proceeds may also be used for
general corporate purposes.
The Company has agreed to pay commissions on the sale of certain
Units in accordance with the policies of the TSX Venture
Exchange. The Company has agreed to pay Paradigm a finder's
fee equal to 6% of the aggregate gross proceeds from the Units sold
to purchasers introduced by Paradigm as well as that number of
compensation options (the "Compensation Options") equal to 6% of
the number of Units acquired by such purchasers. Each Compensation
Option will be exercisable for one common share of the Company for
24 months at the Issue Price.
The Units will be offered for sale in all the provinces of
Canada to qualified purchasers,
and in such other jurisdictions as may be determined by the
Company. This Private Placement is subject to certain conditions
including regulatory approvals and specifically, the approval of
the TSX Venture Exchange.
On behalf of the Board of Directors of
Meridian Mining S.E.
"Anthony Julien"
Anthony Julien
President, CEO and Director
ABOUT MERIDIAN
Meridian Mining S.E. is focused on the acquisition, exploration,
development and mining activities in Brazil. The Company is currently focused on
exploring and developing the Jaburi manganese and gold projects,
the Bom Futuro tin JV area, and adjacent areas in the state of
Rondônia. The Company employs a two-pronged strategy with the
objective of growing pilot production while advancing a parallel
multi-commodity regional exploration program. Meridian is currently
producing high grade manganese at its project located at Espigão de
Oeste.
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 include, among others,
statements with respect to the Company's plans for exploration and
development of its properties and potential mineralization. These
statements address future events and conditions and, as such,
involve known and unknown risks, uncertainties and other factors,
which may cause the actual results, performance or achievements to
be materially different from any future results, performance or
achievements expressed or implied by the statements. Such risk
factors include, among others, failure to obtain regulatory
approvals, failure to complete anticipated transactions, the timing
and success of future exploration and development activities,
exploration and development risks, title matters, inability to
obtain any required third party consents, operating hazards, metal
prices, political and economic factors, competitive factors,
general economic conditions, relationships with strategic partners,
governmental regulation and supervision, seasonality, technological
change, industry practices and one-time events. In making the
forward-looking statements, the Company has applied several
material assumptions including, but not limited to, the assumptions
that: (1) the proposed exploration and development of mineral
projects will proceed as planned; (2) market fundamentals will
result in sustained metals and minerals prices and (3) any
additional financing needed will be available on reasonable terms.
The Company expressly disclaims any intention or obligation to
update or revise any forward-looking statements whether as a result
of new information, future events or otherwise except as otherwise
required by applicable securities legislation.
The Company cautions that it has not completed any feasibility
studies on any of its mineral properties, and no mineral reserve
estimate has been established. In particular, because the Company's
production decision relating to Jaburi's manganese project is not
based upon a feasibility study of mineral reserves, the economic
and technical viability of the Jaburi manganese project has not
been established.
The TSX Venture Exchange has in no way passed upon the merits of
the proposed Private Placement and has neither approved nor
disapproved the contents of this news release. Neither 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.
SOURCE Meridian Mining S.E.