Melior Enters Into Further Standstill Amending Agreement
TORONTO, Dec. 31, 2019 (GLOBE NEWSWIRE) — Melior Resources Inc. (TSXV: “MLR”) (“Melior” or the “Company”) refers to its press release of November 20, 2019 regarding the Default Notice received from the Senior Lender and the subsequent Standstill Agreement entered into with the Pala Investments Ltd (“Pala”). The Company announces that it has entered into a further standstill amending agreement with Pala pursuant to which Pala has agreed to extend the standstill period until February 28, 2020.About MeliorMelior’s Subsidiaries are the owners and past operators of the Goondicum ilmenite and apatite mine 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. As detailed in the press release of September 9, 2019, voluntary administrators have been appointed to the Subsidiaries in Australia pursuant to Section 436A of the Corporations Act 2001 (Australia).Melior is incorporated under the provisions of the Business Corporations Act (British Columbia) and has a registered office in Vancouver, British Columbia. Melior is now classified as a Tier 2 Mining Issuer under the policies of the TSX Venture Exchange.MELIOR RESOURCES INC.
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