Business
Meridian Announces Closing of C$57.5M Bought Deal Financing
London, United Kingdom--(Newsfile Corp. - February 12, 2026) - Meridian Mining plc (TSX: MNO) (FSE: N2E0) (OTCQX: MRRDF) ("Meridian" or the "Company") is pleased to announce that the Company has closed the bought deal offering previously announced on February 4, 2026 and further upsized on February 4, 2026, by issuing 36,392,900 common shares of the Company (the "Offered Shares") at C$1.58 per Offered Share for aggregate gross proceeds to the Company of C$57,500,782 (the "Offering") pursuant to.
About this update from Meridian Mining Plc
[{"type":"text","content":"London, United Kingdom--(Newsfile Corp. - February 12, 2026) - Meridian Mining plc (TSX: MNO) (FSE: N2E0) (OTCQX: MRRDF) ("Meridian" or the "Company") is pleased to announce that the Company has closed the bought deal offering previously announced on February 4, 2026 and further upsized on February 4, 2026, by issuing 36,392,900 common shares of the Company (the "Offered Shares") at C$1.58 per Offered Share for aggregate gross proceeds to the Company of C$57,500,782 (the "Offering") pursuant to terms of the underwriting agreement (the "Underwriting Agreement") entered into among Stifel Canada and BMO Capital Markets, as joint bookrunners, together with Beacon Securities Limited, as co-lead underwriters, and ATB Cormark Capital Markets, Scotia Capital Inc., SCP Resource Finance LP, and Raymond James Ltd. (collectively, the "Underwriters"). The Offering included 4,746,900 Offered Shares issued pursuant to the full exercise of the over-allotment option by the Underwriters.","length":1044,"tagName":"p"},{"type":"text","content":"Mr. Gilbert Clark, Chief Executive Officer, comments: "Meridian greatly appreciates the strong support from its existing and new shareholders, and the exceptional efforts of the Underwriters. 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. The Company can now enter an exciting period of growth as it continues to develop what it considers to be, the pre-eminent VMS Au-Cu-Ag development project of South America."","length":595,"tagName":"p"},{"type":"text","content":"The Company intends to use the net proceeds to advance the development of the Cabaçal Au-Cu-Ag DFS program including deposits for long lead items and advanced infra-structure and civil works, increased exploration activity within the Cabaçal, Jauru and Araputanga belts, and exploration of the Esipgão IOCG belt in Rondônia, working capital and general corporate purposes.","length":372,"tagName":"p"},{"type":"text","content":"The Offered Shares issued pursuant to the Offering were qualified for distribution by way of a prospectus supplement of the Company dated February 6, 2026 (the "Prospectus Supplement&qu...