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Meridian Completes Equity for Debt Transaction and Announces New Capital Structure
Meridian Completes Equity for Debt Transaction and Announces New Capital Structure ...
About this update from Meridian Mining Plc
[{"type":"text","content":"\n\n\n\nMeridian Completes Equity for Debt Transaction and Announces New Capital Structure\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n.prnsblb0{\nBORDER-LEFT:black 0pt\n}\n.prnpl6{\nPADDING-LEFT:0.50em\n}\n.prnsbt0{\nBORDER-TOP:0pt\n}\n.prnpr6{\nPADDING-RIGHT:0.50em\n}\n.prnvab{\nVERTICAL-ALIGN: BOTTOM\n}\n.prnrbrb0{\nBORDER-RIGHT:black 0pt\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnsbl0{\nBORDER-LEFT:0pt\n}\n.prnsbtb0{\nBORDER-TOP:black 0pt\n}\n.prnsbb0{\nBORDER-BOTTOM:0pt\n}\n.prnsbr0{\nBORDER-RIGHT:0pt\n}\n\n\n\n\n\n\n\nCanada NewsWire\nLONDON, July 20, 2020\n\n\n\n\"Significant removal of debt and reduction of issued shares\"\n LONDON, July 20, 2020 /CNW/ - Meridian Mining SE (TSXV: MNO) (\"Meridian\" or the \"Company\") is pleased to announce that it has issued 11,869,142 common shares for the repayment of C$16,669,531 of Company debt. 5,958,540 common shares have been issued to Sentient Global Resource Fund IV L.P (\"Fund IV\") for the payment of C$14,896,350 and 5,910,602 common shares have been issued to The Sentient Group's nominees for the repayment of C$1,773,181. As part of the now completed corporate restructure and related capital raise the Company has repaid a significant part of its debts. The remaining loan outstanding to Fund IV, is held via a Limited Recourse Loan with a zero percent (0.0%) interest rate, a two year term and a pre-set conversion price of C$2.50 per common shares for a fixed number of 5,869,671 common shares 1.  The common shares issued in respect of the debt settlements are subject to a four month hold period expiring on November 17, 2020.  \nThe Company also announces that Fund IV has surrendered 141,011,304 common shares in the capital of the Company to facilitate the restructuring of the Company's capital structure.  \nThe completion of the repayment of debt, together with the recently completed financing and the surrender of equity by Fund IV is a significant milestone for the Company and allows it to focus on its portfolio of exciting exploration and resource development projects in Br...