Sentient IV discloses holdings in Meridian Mining S.E.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES AND NOT FOR DISSEMINATION IN THE UNITED STATES

MONTREAL, Nov. 28, 2016 /CNW Telbec/ - In connection with the completion of a plan of arrangement (the "Arrangement") involving Cancana Resources Corp. and Meridian Mining S.E. ("Meridian"), Sentient Executive GP IV, Limited ("Sentient IV") acquired control over 133,109,662 common shares of Meridian (the "Meridian Shares") representing approximately 88.1% of the outstanding common shares of Meridian and a convertible note in a principal aggregate amount of US$1.5 million (the "Note"). The Note matures on December 23, 2017 and does not bear interest. The principal amount of the Note is convertible into fully paid and non-assessable common shares of Meridian at a conversion price of $0.4375 per share.

Prior to the completion of the Arrangement, Sentient IV had control over the Meridian Shares (representing 100% of the then outstanding common shares of Meridian).

Immediately after the completion of the Arrangement, Sentient IV has control over the Meridian Shares (representing approximately 88.1% of the outstanding common shares of Meridian) and the Note. Assuming the conversion in full of the principal amount of the Note, Sentient IV would acquire control over a maximum of 137,101,547 common shares of Meridian (including the Meridian Shares referred to above, and using the Bank of Canada noon exchange rate on December 22, 2014, as per the terms of the Note). These combined holdings would represent approximately 88.4% of the outstanding common shares of Meridian, calculated on a partially diluted basis assuming the full conversion of the principal amount of the Note only.

Sentient IV acquired the Meridian Shares and the Note for investment purposes only and not with a view to materially affecting control of Meridian. Depending upon market conditions and other factors, Sentient IV may, from time to time, acquire or dispose of additional securities of Meridian, in the open market, by private agreement or otherwise, or acquire interests in or enter into related financial instruments involving a security of Meridian.

The head office address of Meridian is Atrium Building, 8th floor, Strawinskylaan 3127, 1077 ZX, Amsterdam, the Netherlands.

SOURCE Sentient Executive GP IV, Limited

or to obtain a copy of the Early Warning Report filed by Sentient IV, please contact Sue Bjuro at [phone].