Meridian Mining Closes CAD 17.2 Million Private Placement

Meridian Mining UK S, a mining company listed on the Toronto Stock Exchange, has completed a non-brokered private placement, raising CAD 17.2 million. The company sold 44,187,432 common shares at CAD 0.39 each. This funding will advance its Cabaçal gold-copper-silver project in Brazil.

The CEO, Gilbert Clark, expressed gratitude to both new and existing shareholders for their support. Insiders acquired 279,744 shares, which is considered a related party transaction but exempt from formal requirements due to the small percentage relative to the company’s market cap.

The proceeds will fund the pre-feasibility study and feasibility study for Cabaçal, as well as exploration activities in the broader region. The shares are subject to a four-month hold period, expiring June 2025.