/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
LONDON, Sept. 28, 2021 /CNW/ - Meridian Mining UK S
(TSXV: MNO) (FRANKFURT: 2MM)
(OTCQB: MRRDF) ("Meridian" or the "Company") –
is pleased to announce that it has entered into an agreement with
Beacon Securities Limited (the "Lead Agent"), as lead
agent and sole bookrunner on behalf of a syndicate of agents
(collectively with the Lead Agent, the "Agents"), in
connection with a best efforts private placement of up to
12,900,000 common shares of the Company (the "Offered
Shares") at a price of $0.70 per
Offered Share (the "Issue Price") for gross proceeds to the
Company of up to approximately $9,030,000 (the "Offering").
The Company has granted the Agents an option, exercisable by the
Lead Agent on behalf of the Agents, to sell up to an
additional $1,354,500 of Offered
Shares at the Issue Price, exercisable in whole or in part at any
time up to 48 hours prior to the closing date of the Offering.
The Company intends to use the net proceeds of the Offering for
advancing its camp scale VMS Copper-Gold-Silver Project
("Cabaçal") in Mato Grosso,
Brazil, working capital and general corporate purposes.
The closing of the Offering is anticipated to occur on or about
October 19, 2021 and is subject to
certain conditions including, but not limited to, the receipt of
all necessary approvals, including the approval of the TSX Venture
Exchange. All securities issued under the Offering will be
subject to a hold period in Canada
expiring four months and one day from the closing date of the
Offering.
The Offering will be conducted pursuant to the terms of an
agency agreement to be entered into between the Company and the
Agents on or prior to the Closing Date. In connection with the
Offering, the Agents will receive a cash commission equal to 6% of
the gross proceeds of the Offering, other than proceeds from the
Company's president's list which will not be subject to any
commission.
The Offering will be conducted in all provinces of Canada and in the
United States pursuant to private placement exemptions and
in such other jurisdictions as are agreed to by the Company and the
Lead Agent.
The securities offered have not been registered under the U.S.
Securities Act of 1933, as amended, and may not be offered
or sold in the United States
absent registration or an applicable exemption from the
registration requirements. This press release shall not constitute
an offer to sell or the solicitation of an offer to buy nor shall
there be any sale of the securities in any State in which such
offer, solicitation or sale would be unlawful.
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 Copper-Gold-Silver project,
exploration in the Jaurú & Araputanga Greenstone belts located
in the state of Mato Grosso;
exploring the Espigão polymetallic project and the Mirante da Serra
manganese project in the State of Rondônia Brazil.
Forward-Looking Statements
This news release contains forward-looking statements and
forward-looking information within the meaning of Canadian
securities laws (collectively, "forward-looking statements").
Forward-looking statements in this news release relate to, among
other things: the completion of the Offering, the timing and size
of the Offering, the timing and receipt of approval from the TSX
Venture Exchange, the expected use of the net proceeds of the
Offering, the anticipated closing date of the Offering and all
other statements that are not historical facts, particularly
statements that express, or involve discussions as to,
expectations, beliefs, plans, objectives, assumptions or future
events or performance of the Company. Often, but not always,
forward-looking statements can be identified through the use of
words or phrases such as "will likely result", "are expected to",
"expects", "will continue", "is anticipated", "anticipates",
"believes", "estimated", "intends", "plans", "forecast",
"projection", "strategy", "objective" and "outlook".
Forward-looking statements contained in this news release are made
based on reasonable estimates and assumptions made by management of
the Company at the relevant time in light of its experience and
perception of historical trends, current conditions and expected
future developments, as well as other factors that are believed to
be appropriate and reasonable in the circumstances. Forward-looking
statements contained in this news release are made as of the date
of this news release and the Company will not update any such
forward-looking statements as a result of new information or if
management's beliefs, estimates, assumptions or opinions change,
except as required by law. There can be no assurance that
forward-looking statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, the reader is
cautioned not to place undue reliance on forward-looking
statements.
NEITHER THE 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 UK S
