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Morien Announces Non-Brokered LIFE Financing
Globenewswire· 2025-12-02 12:30
Core Viewpoint - Morien Resources Corp. is conducting a non-brokered private placement to raise up to $1,000,000 through the sale of 5,555,556 common shares at a price of $0.18 per share, aimed at supporting ongoing business operations and projects [1][4]. Group 1: Offering Details - The LIFE Offering is expected to close on or about December 16, 2025, subject to customary conditions and necessary approvals, including from the TSX Venture Exchange [3]. - The offering document related to the LIFE Offering is accessible on the Company's profile at www.sedarplus.ca and www.morienres.com, and prospective investors are encouraged to read it before making investment decisions [2]. Group 2: Use of Proceeds - The net proceeds from the LIFE Offering will be utilized for ongoing business operations, including working capital and general corporate purposes, with an estimated financial resource support for three to four years if the offering is fully subscribed [4]. - The Company plans to advocate for the restart of operations at the Donkin Mine, progress the Lazy Head Aggregate Project in partnership with Carver Companies, and evaluate a Newfoundland aggregate opportunity alongside Carver [4]. Group 3: Company Background - Morien is a mining development company based in Nova Scotia, established in 2012, with primary assets including royalties from the Donkin Mine and the Black Point Project [7]. - The Company emphasizes shareholder returns over corporate size and has 51,292,000 issued and outstanding common shares, with a fully diluted position of 53,992,000 [7].