LONDON, June 13, 2018 /CNW/ - Meridian Mining SE
(TSXV: MNO) ("Meridian" or the "Company") today
announced that Mr. Anthony Julien
has resigned as President and CEO of the Company. Mr. Julien
has also resigned as a director of Meridian. The Company
thanked Mr. Julien for his years of service with Meridian.
The Company is also pleased to announce the appointment of Mr.
Gilbert Clark as interim President
and CEO of Meridian. Mr. Clark is a geologist and has
extensive experience in mineral exploration and development.
Mr. Clark has served as a Partner with Sentient Equity Partners
since 2017. Prior to that he was a Senior Investment Advisor
and Director at Sentient Asset Management Canada. He has been
involved in private equity investments and appraisals primarily in
the mining and energy sectors and is currently a non-executive
Director of North American Nickel Inc.
The Company also announced that on June
12, 2018 it agreed to enter into a new loan from Sentient
Global Resources Funds IV LP of US$2,000,000. The proceeds from the loan
will be used for working capital. The loan bears interest at
a rate of 10% per annum and matures on September 30, 2019.
The loan constitutes a "related party transaction" for purposes
of Multilateral Instrument 61-101 – Protection of Minority Security
Holders in Special Transactions ("MI 61-101"). The
transaction is exempt from the valuation and minority approval
requirements of MI 61-101 in accordance with sections 5.5(a) and
5.7(a), respectively, by virtue of the fact that the value of the
loan is less than 25% of the Company's market capitalization.
On behalf of the Board of Directors
of Meridian Mining SE
John Sabine
Chairman of the Board
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. 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.
