MELIOR RESOURCES INC. ("MLR")
BULLETIN TYPE: Change of Business
BULLETIN DATE: May 16, 2014
TSX Venture Tier 1 Company
TSX Venture Exchange has accepted for filing the Company's Change of Business, which includes the acceptance of the following transactions:
Share Sale and Purchase Agreement ("Agreement") dated March 31, 2014 (the "Share Purchase Agreement"), between Melior Resources Inc. (the "Company"), Melior Australia Pty Ltd (wholly owned subsidiary of the Company "Melior Australia") and Belmont Park - Monto Pty Ltd, Panorama Ridge - Monto Pty Ltd and Sashimi Investments Pty Ltd (Each a "Vendor", together the "Vendors"), with respect to the acquisition of 100% of the issued and outstanding shares of Belridge Enterprises Pty Ltd. ("Belridge"). Belridge is an Australian incorporated company which owns the Goondicum Ilmenite Project (the "Goondicum Project") located in Queensland, Australia.
In consideration of the acquisition of 100% of the issued and outstanding shares of Belridge, the Company will issue to the Vendors:
* 38,087,971 shares of the Company at Completion Date
* Up to an additional 38,087,971 shares of the Company as "Earn-Out Consideration" if certain conditions are met in the future.
The Company will pay to Element Capital Management Pty Ltd, the sum of AUD$250,000 as a Settlement Sum in connection with the agreement (Finder's Fee) between Belridge and Element dated July 25, 2013.
The Company is classified as an 'Exploration and Mining' company.
Capitalization: Unlimited shares with no par value of which
211,468,945 shares are issued and outstanding
Escrowed: 38,087,971 common shares
Escrow Term: 2 years
Symbol: MLR (UNCHANGED)
Company Contact: Thomas Masney (CFO)
Company Address: 120 Adelaide Street West, Toronto, Ontario, M5H 1T1
Company Phone Number: (416) 644-1217
Company Fax Number: (416) 367-1954
Company Email Address: info@meliorresources.com
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