Melior Acknowledges Announcement of Unsolicited Insider Bid by Pala Investment Holdings Limited
24 Septembre 2012 - 10:00PM
Marketwired Canada
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.
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