www.canadianminingjournal.com/...ases/story.aspx?id=1001717053
Melior Acknowledges Announcement of Unsolicited Insider Bid by Pala Investment Holdings Limited
September 24, 2012 - 04:00:29 PM
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TORONTO, ONTARIO--(Marketwire - Sept. 24, 2012) - Melior Resources Inc. ("Melior") (TSX VENTURE:MLR) acknowledges that Pala Investments Limited ("Pala"), the holder of approximately 44% of Melior's outstanding common shares, has announced its intention to make an unsolicited all-cash offer for all of the issued and outstanding shares of Melior not already owned by Pala.
Melior has formed a Special Committee of its Board of Directors, consisting of Robert Dietrich. The Special Committee is in the process of reviewing and evaluating the announcement with its financial and legal advisors and will communicate further with shareholders in accordance with applicable securities laws. Melior recommends that shareholders take no action until shareholders have received further communications from Melior.
The Special Committee has retained Bennett Jones LLP as its legal advisor and Crosbie & Company Inc. to provide a formal valuation.
FOR FURTHER INFORMATION PLEASE CONTACT:
Melior Resources Inc.
Charles Entrekin
Chairman and Chief Executive Officer
416-644-1217
Melior Resources Inc.
Rishi Tibriwal
Chief Financial Officer
416-644-1217