TORONTO, July 13, 2018 (GLOBE NEWSWIRE) -- Melior Resources Inc. (TSXV:MLR) (“Melior” or the “Company”) announces that the Board has approved the issuance of 125,000 options to Mr. George Lloyd following his recent appointment as Non-Executive Director of Melior. The options will be issued under Melior’s existing Employee Stock Option Plan and have a term of 3 years and a strike price of CAD$0.80/share, being the closing price on the day prior to his appointment. One third of the options can be exercised 6 months after issuance, one third 18 months after issuance, and one third 30 months after issuance.
Furthermore, as a result of the pending transition of Melior from a development company to a producer, Melior has reviewed the Directors remuneration to ensure it is appropriately competitive. Subsequently, the Chairman of the Board and non-executive director’s remuneration has been revised to CAD$60,000 per annum and CAD$40,000 per annum respectively. These new rates will commence as at 1 July 2018.
About Melior
Melior is the owner and operator of the Goondicum mine, a past-producing ilmenite and apatite mine strategically located in Queensland Australia. Further details on Melior and the Goondicum mine can be found at www.meliorresources.com and regulatory filings are available on SEDAR.
Melior is incorporated under the provisions of the Business Corporations Act (British Columbia) and has a registered office in Toronto, Ontario. Melior is classified as a Tier 1 Mining Issuer under the policies of the TSX-V.
Forward Looking Statements Disclaimer
Statements made in this news release may be forward-looking and therefore subject to various risks and uncertainties. Such statements can typically be identified by terminology such as ‘‘may’’, ‘‘will’’, ‘‘could’’, ‘‘should’’, ‘‘expect’’, ‘‘plan’’, ‘‘anticipate’’, ‘‘believe’’, ‘‘intend’’, ‘‘possible’’, ‘‘continue’’, “objective” or other similar expressions concerning matters that are not historical facts. Certain material factors or assumptions are applied in making forward-looking statements and actual results may differ materially from those expressed or implied in such statements. Melior does not undertake to update any forward-looking statements; such statements speak only as at the date made.
For further information please contact:
MELIOR RESOURCES INC.
Mark McCauley
Chief Executive Officer
+61 7 3233 6300
info@meliorresources.com
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 release.