Key Developments: Melior Resources Inc (CCJMF.PK)
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24 Apr 2013
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Latest Key Developments (Source: Significant Developments)
Melior Resources Inc Announces Appointment Of Thomas Masney As Chief Financial Officer
Melior Resources Inc announced that Mr. Thomas Masney has been appointed to the position of Chief Financial Officer (CFO) of Melior with effect from September 30, 2012. Mr. Masney is replacing Mr. Rishi Tibriwal following his resignation to pursue other opportunities. Full Article
Asian Mineral Resources Ltd Announces Closing Of $5,500,000 Strategic Investment By Melior Resources Inc.
Asian Mineral Resources Ltd (AMR) and Melior Resources Inc. announced that they have completed the previously announced strategic investment by Melior in AMR whereby Melior purchased 50,000,000 common shares of AMR at CAD0.11 per AMR Share for total consideration of CAD5,500,000. Concurrent with the completion of the Strategic Investment, AMR and Melior have also entered into an investor rights agreement pursuant to which AMR has granted Melior the right to designate one nominee to be appointed to the Board of Directors of AMR. After closing of the Strategic Investment, Melior owns and controls, directly and indirectly, a total of 50,000,000 AMR Shares representing approximately 13.8% of the issued and outstanding AMR Shares on an undiluted basis. The AMR Shares were acquired by Melior under a private placement from AMR for investment purposes and Melior may increase or decrease its investment in AMR depending upon future market conditions. Full Article
Asian Mineral Resources Ltd Arranges $5.5 Million Financing From Melior Resources Inc-Canada Stockwatch News
Canada Stockwatch News reported that Asian Mineral Resources Ltd and Melior Resources Inc. have agreed to a strategic investment whereby Melior will provide equity financing of $5.5 million to Asian Mineral Resources Ltd. The cash from the strategic investment will be used by Asian Mineral Resources Ltd to finance capital expenditure to bring the Ban Phuc nickel project into commercial production which is expected to occur by June, 2013. To implement the strategic investment, Asian Mineral Resources Ltd and Melior have entered into a subscription agreement whereby Melior will, subject to the satisfaction of certain conditions, purchase 50 million common shares at $0.11 per Asian Mineral Resources Ltd share for total consideration of $5.5 million. Following the completion of this transaction, Melior will own 13.8% of Asian Mineral Resources Ltd's outstanding common shares on an undiluted basis. Melior will also have the right to designate one nominee to be appointed to the Board of Directors of Asian Mineral Resources Ltd pursuant to an investor rights agreement. The terms of the strategic investment were considered and recommended by the respective special committees of independent directors of Melior and Asian Mineral Resources Ltd established to evaluate strategic transactions. The transaction has an outside closing date of July 31, 2012. Full Article
Melior Resources Inc Completes Sale Of Wholly Owned Subsidiary, Coalcorp International, AVV
Melior Resources Inc announced that it has completed the sale of all of the common stock of its wholly owned subsidiary, Coalcorp International, AVV, which was the holding company for all of Melior's off-shore subsidiaries for proceeds of $1. As a result of the transaction, assets of discontinued operations of approximately $3.7 million, liabilities of discontinued operations of approximately $0.4 million and other associated liabilities of approximately $3.0 million, as reported on the unaudited statement of financial position as at December 31, 2011, will be removed from Melior's balance sheet as of the closing, subject to any post-closing adjustments. Full Article
Melior Resources Inc Announces Appointment Of Rishi Tibriwal As Chief Financial Officer
Melior Resources Inc announced that Mr. Rishi Tibriwal has been appointed to the position of Chief Financial Officer (CFO) of Melior. Mr. Tibriwal is replacing Mr. Steven Cresswell following his resignation to pursue other opportunities. Full Article
Coalcorp Mining Inc. Announces Name Change-MNP
Market News Publishing reported that effective at the opening on September 29, 2011, the common shares and warrants of Melior Resources Inc. will commence trading on TSX Venture Exchange, and the common shares and warrants of Coalcorp Mining Inc. will be delisted. Full Article
Coalcorp Mining Inc. Announces Appointment Of Charles Entrekin As Chief Executive Officer And Chairman
Coalcorp Mining Inc. announced that Dr. Charles Entrekin has been appointed to the positions of Chief Executive Officer ("CEO") and Chairman of the Board of Directors of Coalcorp. Dr. Entrekin, replaces Dr. Richard Lister following his resignation for personal reasons as interim CEO and Chairman of the Board of Directors. Full Article
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