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

Core Viewpoint - Morien Resources Corp. has successfully closed its non-brokered Listed Issuer Financing Exemption offering, raising gross proceeds of CAD $1,600,000 through the issuance of 8,888,889 common shares at a price of CAD $0.18 per share [1][2]. Group 1: Offering Details - The LIFE Offering received strong support from existing shareholders, management, directors, and new investors, with insiders subscribing for a total of 650,753 common shares [2]. - The offering was conducted under the National Instrument 45-106 – Prospectus Exemptions, applicable in all Canadian provinces and territories except Quebec, and also offered in the U.S. under available exemptions [3]. - The Company incurred fees of CAD $12,240 to certain intermediaries in connection with the LIFE Offering [3]. Group 2: Financial Implications - The net proceeds from the LIFE Offering, combined with existing cash, are expected to provide sufficient financial resources for Morien's operations for an estimated four to five years [3]. - Following the LIFE Offering, the Company has 60,180,889 issued and outstanding common shares, with a fully diluted position of 62,330,889 [5]. Group 3: Future Plans - The Company plans to advocate for the restart of operations at the Donkin Mine and advance permitting and technical work at the Lazy Head Aggregate Project [7]. - Morien aims to progress an early-stage technical and commercial evaluation of a Newfoundland aggregate opportunity alongside Carver Companies [7]. - The Company will remain engaged with Vulcan Materials Company regarding the status and timing of its Final Investment Decision for the Black Point Quarry Project, which includes a CAD $400,000 milestone payment owed to Morien [7].