LONDON, May 28, 2018 /CNW/ - Meridian Mining SE (TSX
V: MNO) ("Meridian" or the "Company") today announces
certain corporate changes. The Company has been in recent
discussions with Sentient Equity Partners, acting on behalf of
Sentient Executive GP IV Limited (together "Sentient"),
about potential financial support. The Company is pleased to report
that Sentient has indicated that it is prepared to make available
interim financing of up to US$2 million for working capital
requirements, subject to mutual agreement on conditions, structure,
and finalisation of necessary documentation.
However, in the course of these discussions, it became apparent
that Sentient considered it necessary to reconstitute the board of
directors of the Company and that some of the incumbent
directors would not be supported for re-election at the Company's
upcoming annual general meeting of shareholders. Accordingly,
effective May 24, 2018 Barry Bolitho
and Doug Willock have resigned as
directors of the Company. The Company would like to thank
Messrs. Bolitho and Willock for their valuable contribution to the
Company and wish them all the best in their future ventures.
The Company is also pleased to announce the appointment of
John Sabine and Charles Riopel to the board of directors to fill
the vacancies created by the resignations of Messrs. Bolitho and
Willock.
Mr. Sabine has over 40 years of legal experience advising on
corporate and securities matters, financings, reorganizations,
mergers and acquisitions. He represented clients in a number of
industries and has focused on mining and natural resources. With
transaction experience in the Americas, Africa, Europe and Asia, John is widely recognized for advising
clients on complex international projects. In addition to advising
public companies and investment banks, John has served on the
boards of directors of a number of public and private companies in
a variety of businesses. He is currently Non-Executive Chair of
North American Nickel Inc., and a director of Seabridge Gold Inc.,
Falco Resources Ltd., and Barkerville Gold Mines Ltd. He
holds Bachelor of Arts and Law degrees from Western
University.
Mr. Riopel is an accomplished senior-level executive with 20
years domestic/international investment experience in mining. He
has managed over these years both private and public investment
funds. He is the founder and managing partner at Latitude 45°, a
private equity fund specialized in mining. Prior thereto, he was
Senior Investment Director at The Sentient Group, one of the
largest PE Funds in mining with over US$2.7
billion under management. He served as Senior Investment
Director Metals & Mining at the SGF from 2006 to 2012. He was
appointed to the Board of Directors of Women in mining Canada in 2017 and is currently the Chair of
the Corporate Governance Committee. He is also a board member of
Aligo Innovation. He has served as a director and/or officer of
several Canadian and international companies. He holds a Bachelor
of Economics degree from Montreal
University and a Masters in Business Administration degree
from Laval University.
On behalf of the Board of Directors
of Meridian Mining SE
Anthony Julien
President, CEO and Director
ABOUT MERIDIAN
Meridian Mining SE is focused on the acquisition, exploration,
development and mining activities in Brazil. The Company is currently focused on
exploring and developing the Espigão 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 do
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 BMC's manganese project is not
based upon a feasibility study of mineral reserves, the economic
and technical viability of the Espigão manganese project has not
been established.
The TSX Venture Exchange 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.
