Morien Announces Closing of $1.6 Million Non-Brokered LIFE Financing

Executive Summary

• Morien Resources Corp. closed its non‑brokered LIFE offering, raising gross proceeds of $1,600,000 by issuing 8,888,889 common shares at $0.18 per share.
• Net proceeds, together with existing cash, are intended to fund operations for the next four to five years, supporting activities such as the Donkin Mine restart, permitting and technical work on the Lazy Head Aggregate Project, evaluation of a Newfoundland aggregate opportunity, and engagement with Vulcan Materials on the Black Point Quarry milestone payment.
• Insiders subscribed for 650,753 shares; no material change report was filed prior to closing because insider participation was not known at that time.

Key Details

• Offering Structure: Non‑brokered Listed Issuer Financing Exemption (NI 45‑106) in all Canadian provinces/territories except Quebec; also offered under U.S. exemptions where applicable.
• Shares Issued: 8,888,889 common shares at $0.18 per share → gross proceeds of $1,600,000 CAD.
• Insider Participation: 650,753 shares subscribed by insiders (management, directors, existing shareholders). No material change report filed before closing.
• Fees Paid: Intermediary fees of CAD $12,240.
• Use of Proceeds / Financial Resources: Combined with cash on hand, expected to provide sufficient liquidity for 4‑5 years to:
• Advocate for restart of operations at the Donkin Mine.
• Advance permitting, environmental review, and technical work at the Lazy Head Aggregate Project (partner: Carver Companies).
• Conduct early‑stage technical and commercial evaluation of a Newfoundland aggregate opportunity (with Carver).
• Remain engaged with Vulcan Materials regarding the Final Investment Decision for the Black Point Quarry Project and the $400,000 milestone payment owed to Morien.
• Shareholder Structure Post‑Offering: Total issued & outstanding common shares now 60,180,889; fully diluted position 62,330,889.
• Holding Periods: Shares issued to insiders subject to a four‑month hold period under TSX Venture Exchange policies; no statutory hold period for other shares.

Notable Quotes

• “The LIFE Offering was well supported by existing shareholders, management, directors, and new investors,” – Dawson Brisco, President & CEO.
• “Net proceeds together with cash on hand are expected to provide Morien with sufficient financial resources to support its operations for an estimated four to five years,” – Dawson Brisco, President & CEO.