Meridian Mining updates terms of private placement
Monday, May 01, 2017
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.

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.


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.

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