Meridian Announces Closing of C$57.5M Bought Deal Financing

Executive Summary

• Meridian Mining plc closed a bought‑deal equity offering, issuing 36,392,900 common shares at C$1.58 per share for gross proceeds of approximately C$57.5 million.
• The net proceeds will increase cash on hand to over C$100 million and are earmarked for advancing the Cabaçal Au‑Cu‑Ag DFS program, additional exploration in Brazil, and general corporate purposes.
• An insider purchased 5,719,936 shares; the transaction was exempt from MI 61‑101 valuation/approval thresholds.

Key Details

• Offering size: 36,392,900 common shares (including 4,746,900 over‑allotment shares).
• Price per share: C$1.58.
• Gross proceeds: C$57,500,782.
• Underwriters / Bookrunners: Stifel Canada, BMO Capital Markets (joint bookrunners); Beacon Securities Limited (co‑lead), ATB Cormark Capital Markets, Scotia Capital Inc., SCP Resource Finance LP, Raymond James Ltd.
• Over‑allotment exercised: 4,746,900 shares.
• Insider participation: 5,719,936 shares purchased; deemed a “related party transaction” but exempt from MI 61‑101 valuation/approval because the amount did not exceed 25 % of market cap. No director dissent recorded.
• Use of proceeds:
• Funding long‑lead items and civil works for the Cabaçal Au‑Cu‑Ag DFS program.
• Increased exploration in the Cabaçal, Jauru, Araputanga belts and the Esipgão IOCG belt (Rondônia).
• Working capital and general corporate purposes.
• Post‑closing balance sheet: Expected cash & equivalents > C$100 million.
• Regulatory filings: Shares qualified via a prospectus supplement dated 2026‑02‑06 to the short‑form base shelf prospectus (dated 2026‑01‑05). Offering subject to final TSX approval.
• U.S. securities disclaimer: Shares not registered under U.S. Securities Act; cannot be offered/sold in the United States absent registration or exemption.

Notable Quotes

“Meridian greatly appreciates the strong support from its existing and new shareholders… Our post‑closing balance sheet will show over C$100M in cash and equivalents, positioning Meridian to capitalize on a clear execution plan at Cabaçal and long‑term value creation via its extensive exploration programs.” – Gilbert Clark, CEO & Director.