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LONDON, Oct. 28, 2021 /CNW/ - Meridian Mining UK S (TSXV: MNO) (Frankfurt: 2MM) (Tradegate: 2MM) (OTCQB: MRRDF) ("Meridian" or the "Company") is pleased to announce the expansion of its Board of Directors with the appointment of Mrs. Susanne Sesselmann to reflect the Company's strong advancement of the Cabaçal VMS Copper-Gold resource development and exploration project ("Cabaçal" or the "Project"). With the expanded corporate needs associated with its Cabaçal project, the Board welcomes Mrs. Sesselmann who has agreed to join as an Independent Director.
Ms. Susanne H. Sesselmann is Munich based and has 20 years of international experience in banking with HVB Group (Unicredit), ten of which were in investment banking and project finance throughout the world but principally in Europe. Since 2003 she specialized in private equity funds and founded her own company in 2006. She was appointed an independent Director to the Board of the Meridiam Infrastructure Funds Group in France and the US, developing, managing and financing infrastructure projects. Then she also served as a Board Director of natural resources funds group, The Sentient Group, and various Sentient group companies, and of Marengo Mining Limited, a junior copper exploration company in Papua New Guinea until 2012. Susanne has been lecturing at universities in Paris and in Linz for many years. She holds a Masters degree in Languages (French and Spanish) from the University of Innsbruck, Austria.
The Company also today announces that the Board of Directors of the Company has approved the grant ("the Grant") of an aggregate of 4,459,717 options (the "Options") to purchase common shares in the capital of the Company to certain directors, officers, employees, consultants, and advisors of the Company. The Options are exercisable at a price of $1.10 per common share for a term of five years, until October 27, 2026. 300,000 Options within the Grant are also subject to certain vesting conditions. The granting of the Options is subject to regulatory acceptance of applicable filings.
Mr. Gilbert Clark, Executive Chairman, states, "as we continue are strong technical advance at Cabaçal we have to anticipate the expanded financial and ESG requirements that the Board will have to consider alongside our current ongoing focus. Having worked closely with Mrs. Sesselmann during my career I am very pleased that we are able to attract some one with her international ESG, banking, and project finance experience to the Board of Meridian and look forward to her strong contribution."
On behalf of the Board of Directors of Meridian Mining UK S
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Meridian Mining UK S is focused on the acquisition, exploration, and development activities in Brazil. The Company is currently focused on resource development of the Cabaçal VMS Copper-Gold project, exploration in the Jaurú & Araputanga Greenstone belts located in the state of Mato Grosso; exploring the Espigão polymetallic project and the Mirante da Serra manganese project in the State of Rondônia Brazil.
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 TSX Venture Exchange has neither approved nor disapproved the contents of this news release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Meridian Mining UK Societas
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