SOURCE: Meridian Energy Group, Inc.

Meridian Energy Group, Inc.

May 23, 2017 06:00 ET

Meridian Energy Group, Inc., Appoints Ron Biagi of Biagi Management Group as its Financial Advisor

BELFIELD, ND--(Marketwired - May 23, 2017) - Meridian Energy Group, Inc., the leading developer of innovative solutions for environmentally-compliant oil refining technology, announced today that it has reached agreement with Ron Biagi, Managing Director of Biagi Management Group, to join Meridian's Advisory Board. Biagi will act as a Financial Advisor to Meridian's senior management team, and will provide counsel on project capital formation and project financing structuring of the funding for Meridian's Davis Refinery -- the 55,000 barrel per day ("bpd") full-conversion crude oil refinery that Meridian will build in Belfield, ND.

In addition to his position at Biagi Management Group, Mr. Biagi is a member of the Board of Directors of Golden State Bank and Golden State Bancorp in Glendale, California, and was previously a Senior Consultant with BA Advisory Services, specializing in international banking consultancy. Prior to that, Mr. Biagi was Chairman of the Board and CEO of Bank of America Texas and New Mexico.

Meridian CEO William Prentice said of the selection, "The financial structuring for Meridian's energy projects will seek to lock in low costs of capital as a competitive advantage, based upon Meridian's approach to project development, which focuses on risk management and mitigation. Mr. Biagi's expertise will ensure Meridian's financing plans will be properly integrated and will maximize these competitive advantages."

Mr. Biagi had this to say, "The opportunity to participate in this state of the art refinery that sets a new standard for environmental compliance, along with its team of world class experts is very exciting."

Chad Hope, Meridian Chief Financial Officer added, "Meridian is pleased and excited that Mr. Biagi has accepted the invitation to join the Meridian Advisory Board. His experience and expertise will be instrumental in the current and future growth of the Company. Mr. Biagi's appointment to the Advisory Board exhibits management's continued commitment toward the success of the Company and duty to increase enterprise value for our shareholders."

Prentice and Meridian Board Member Tom Skwarek recently co-authored Oil & Gas Financial Journal's May issue cover story, "Financing the Davis Refinery," a comprehensive account of Meridian's innovative approach to securing the financing to build the state-of-the-art facility atop the Bakken shale play in North Dakota. Davis is the first greenfield refinery to be built in the US in the last 40 years, and will be the cleanest on the planet. This is truly a remarkable story that is a must-read for people in the industry: http://digital.ogfj.com/ogfj/201705?sub_id=WdWGycy8aB3y&pg=23#pg23

About Meridian Energy Group, Inc.

The Mission of Meridian Energy Group, Inc. is to provide long-term shareholder value through the development and operation of the cleanest, most efficient and environmentally compliant crude oil refineries in the world, benefiting the community and its investors. Established in 2013, Meridian is led by industry experts with a combined 500 years of world-class expertise in energy & hydrocarbon processing, project development, finance, and large capital project management. Meridian Energy Group, Inc. current headquarters is in Belfield, ND.

For more information, visit: http://www.meridianenergygroupinc.com