/NOT FOR DISTRIBUTION TO
Amendment frees up reserved capital for further investment into resource development at Cabaçal
Highlights of today's update:
- Meridian positively amends the Cabaçal Purchase Agreement freeing up
USD1.75M of working capital; for near-term exploration - Capital reserved for 3rd Vendor consideration can now be made available for Meridians ongoing copper-gold development program at Cabaçal.
The Vendors have agreed to the Company's initiative to free up the bulk of the capital reserves allocated for the 3rd Vendor payment notionally anticipated for allocation during the 4th Quarter 2022 until
On behalf of the Board of Directors of Meridian Mining
Dr.
CEO, President and Director
Meridian Mining
Email: info@meridianmining.net.br
Ph: +1 (778) 715-6410 (PST)
Stay up to date by subscribing for news alerts here: https://meridianmining.co/subscribe/
Follow Meridian on Twitter: https://twitter.com/MeridianMining
Further information can be found at www.meridianmining.co
ABOUT MERIDIAN
Meridian Mining
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, development and exploitation 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 risks and 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, development and exploitation 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 or mineral resource estimate has been established. Geophysical exploration targets are preliminary in nature and not conclusive evidence of the likelihood of a mineral deposit.
The
_______________________________
1 | See Meridian press releases |
SOURCE
© Canada Newswire, source