Merida Announces Name Change and Results of Annual General and Special Meeting

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TORONTO, Nov. 30, 2022 (GLOBE NEWSWIRE) — Merida Minerals Holdings Inc., (the “Corporation” or “Merida“) (TSXV: ESPN) announced that the Corporation has changed its name to “Hispania Resources Inc.” effective November 17, 2022. The common shares of the Corporation will commence trading under the new name on the TSX Venture Exchange under its current trading symbol “ESPN” at market open on December 14, 2022. There is no consolidation or change in the share capital. The Corporation is changing its name as it plans to acquire additional mining property in various regions of Spain. Given these plans for expansion, the Corporation felt that the current name “Merida”, being a reference to the specific region in Spain where the Corporation’s current mining property is located, is no longer appropriate.

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Common share certificates bearing the previous company name “Merida Minerals Holdings Inc.”, continue to be valid in the settlement of trades and will only be replaced with certificates bearing the new name upon transfer. The Corporation is not requesting, and shareholders are not required to, exchange their existing share certificates for new certificates bearing the new company name.

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Merida is also pleased to announce that all of management’s nominees listed in the Corporation’s management information circular dated October 14, 2022 (the “Circular”) were elected as directors of the Corporation at the annual general and special meeting of shareholders held on November 14, 2022 (the “Meeting”).

The detailed results of the vote for the election of directors held at the Meeting are set out below. Miguel Cabal voluntarily stepped down as a director and did not stand for re-election.

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At the Meeting, the Corporation’s shareholders also approved: (i) fixing the number of directors for the ensuing year at three and empowering the board of directors of the Corporation to adjust such number between shareholder meetings by way of resolution in accordance with the Corporation’s constating documents; (ii) the reappointment of DMCL LLP as the Corporation’s auditors for the ensuing year and authorized the board of directors to fix the auditors’ remuneration; (iii) the Equity Incentive Plan of the Corporation, and (iv) the name change of the Corporation to “Hispania Resources Inc.”

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About Merida Minerals Inc.

Merida Minerals Inc is a mineral exploration company focused on mining opportunities in Spain. Merida is currently focused on developing the long-term mining potential of its core asset, the Zinc, Copper, Lead enriched Puebla de la Reina (“PBR“) property in the low-risk and historic mining district of Extremadura in Southwest Spain. The PBR property covers an area of 90 km². Merida, through its subsidiary, La Joya, has entered into a purchase agreement with Auplata S.A. to acquire a 100% interest in the PBR property. The management of Merida contains industry veterans who have more than 80 years of mineral exploration and production experience in multiple jurisdictions and have successfully managed multiple international mining companies. This includes in Spain, where some of the team was responsible for the founding and building of Iberian Minerals, with the continued support of the local and regional governments, including the well developed and sophisticated transportation and mining infrastructure. 

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For more information on Merida Minerals Inc., visit: http://meridaminerals.com/.

Contact Information

For more information or interview requests, please contact:

Norman Brewster – Chief Executive Officer
norm@meridaminerals.com

(416) 970-3223

Kyle Appleby – Chief Financial Officer
kappleby@cfoadvantage.ca

(416) 417-9176

Forward-Looking Information

This news release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information can be identified by words such as: “intend”, “believe”, “estimate”, “expect”, “may”, “will” and similar references to future periods. Examples of forward-looking information include, among others, the proposed trading date of the Corporation’s shares under its new name, the Corporation’s plans to acquire additional mining property, as well as information relating to Merida. Although Merida believes that, in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because Merida can give no assurance that they will prove to be correct. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, the risks (i) that the future plans of Merida may differ from those that currently are contemplated; and (ii) that the expected trading date of the Common Shares may change. Additional risks include those disclosed in the Filing Statement, which are incorporate herein by reference and are available through SEDAR at www.sedar.com. The forward-looking statements contained in this news release are made as of the date hereof, and the Corporation undertakes no obligation to update publicly or revise any forward-looking statements or information, except as required by law.

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This news release is not an offer of the securities for sale in the United States. The securities described in this news release have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act of 1933, as amended) absent registration or an exemption from registration. This news release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any state in which where such offer, solicitation or sale would be unlawful.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.