Morien Announces Non-Brokered LIFE Financing

On December 2, 2025, Morien Resources Corp. announced a non-brokered private placement of up to 5,555,556 common shares at a price of $0.18 per share, for gross proceeds of up to $1,000,000. The financing is being conducted under the Listed Issuer Financing Exemption (LIFE), which means the shares will not have a hold period for Canadian resident subscribers. The proceeds will be used for general corporate and working capital purposes, including advocating for the restart of the Donkin Mine and advancing the company's aggregate projects.

This financing, while dilutive, is a materially positive event for Morien. The company's Q3 2025 financial statements (filed November 17, 2025) revealed a critical cash position of only $111,071, down from $477,416 at the start of the year. With a nine-month cash burn from operations of approximately $479,000, the company was facing imminent insolvency.

This $1 million capital injection removes the significant near-term "going concern" risk and provides the company with a runway of approximately 18-24 months at its current burn rate. This allows Morien to continue funding its general and administrative expenses, advocate for a restart of its core Donkin Mine royalty asset, and support its new, partner-funded aggregate projects.

The financing terms are reasonable under the circumstances. The $0.18 price represents a minimal 5.3% discount to the prior day's closing price of $0.19. Critically, the financing does not include any warrants, which prevents further potential dilution for existing shareholders. The offering will result in approximately 10.8% dilution, a necessary cost for survival and continued operation. The alternative was likely a halt in operations or a far more dilutive financing under duress. This capital raise allows the company to negotiate and advance its projects from a position of solvency, not desperation.

Morien Resources is a Canadian-based, royalty and mineral rights company. Its business model is to generate revenue through royalties and other interests in mining projects.

• Flagship Project (Legacy): The company's primary asset has been a 2%-4% gross production royalty on the Donkin Coal Mine in Nova Scotia. The mine, operated by Kameron Collieries, has been on care and maintenance since late 2023, and royalty revenue has ceased, precipitating the company's financial distress. Kameron is now exploring a sale of the mine.
• Strategic Pivot: Morien has strategically pivoted to de-risk its portfolio by focusing on aggregate projects. It holds a royalty on the Black Point Quarry Project (operated by Vulcan Materials) and, in July 2025, entered a strategic partnership with Carver Companies, LLC to identify and permit new aggregate projects in Atlantic Canada. The first of these is the Lazy Head Aggregate Project.