MELIOR RESOURCES INC. ANNOUNCES PROPOSED ACQUISITION OF 100% OF BELRIDGE ENTERPRISES PTY LTD AND CHANGE OF BUSINESS
Melior Resources Inc. has entered into a share sale and purchase agreement dated as of March 31, 2014, with respect to the acquisition of 100 per cent of the issued and outstanding shares of Belridge Enterprises Pty. Ltd. Belridge is an Australian incorporated company which owns the Goondicum ilmenite project located in Queensland, Australia. The proposed transaction will constitute a change of business transaction of the corporation in accordance with Policy 5.2 of the exchange.
A presentation detailing the proposed transaction can be found on Melior's website.
## 100-per-cent all-share acquisition of Belridge; ## Melior to issue 38.1 million shares at closing representing 18.0 per cent of the corporation on a pro forma basis; ## Residual earn-out payment of up to an additional 38.1 million shares due on achievement of certain predetermined share price levels significantly in excess of Melior's current share price; ## Melior to invest up to $15-million (U.S.) in the restart of the operation.
## High-quality ilmenite and apatite (phosphate rock) project, well positioned to leverage growing demand for titanium dioxide, as well as benefit from increasing agricultural demand for fertilizers; ## Resource base of 1.9 million tonnes of indicated and 1.93 million tonnes of inferred in situ ilmenite resources with significant opportunities to grow the resource base further through near-mine exploration; ## Formerly operating project, currently on care and maintenance, expected to allow for quick and cost-effective restart; ## In excess of $120-million (Australian) of historical invested capital previously spent on infrastructure and process plant equipment; ## Project is strategically located in Australia, close to high-growth Asian markets; ## High-quality ilmenite product well understood and accepted by customers, with over 61,000 tonnes having been previously supplied to customers; ## Project provides Melior a unique and relatively low-risk opportunity to become a mid-sized producer of quality ilmenite; ## Successful restart of Goondicum will provide a strong platform allowing consideration of further growth opportunities.
Melior to hold second Belridge conference call April 14
2014-04-09 17:53 ET - News Release
Mr. Thomas Masney reports
MELIOR RESOURCES INC. CONFERENCE CALL WITH RESPECT TO PROPOSED ACQUISITION OF 100% OF BELRIDGE ENTERPRISES PTY. LTD.
Melior Resources Inc. will hold a second conference call to discuss the transaction announced in its March 31, 2014, press release on April 14, 2014, at 12 p.m. EST, to allow additional shareholders to participate.
A conference call to discuss this transaction will be held on April 14, 2014, at 12 p.m. EDT.
The conference call information is as set out in the attached table.
Melior target Belridge buys 1.01% royalty on Goondicum
2014-05-05 13:27 ET - News Release
Mr. Charles Entrekin reports
MELIOR RESOURCES INC. SUCCESSFUL BUY-OUT OF GOONDICUM ROYALTY AND INCREASE OF BELRIDGE LOAN FACILITY
Melior Resources Inc.'s takeover target Belridge Enterprises Pty. Ltd. has entered into an agreement to repurchase a 1.0125-per-cent royalty from Goody Investments Pty. Ltd. on the gross income from all ilmenite and apatite sold from the Goondicum project. Goody will maintain a royalty interest over other minerals on the property. Belridge will pay Goody $600,000 for the royalty interest.
The purchase of the royalty by Belridge will be financed through the extension of the existing short-term financing facility between Melior and Belridge. The loan has been increased by a further $900,000, to a total of $1.4-million, to include the payment of the royalty and to finance continuing operational costs through to closing of acquisition of Belridge, as detailed in a press release of March 31, 2014.
Charles Entrekin, chairman and chief executive officer of Melior, commented, "We are very pleased with the purchase of the royalty interest in the Goondicum project which is an important milestone in lowering the overall cost structure of the business.
"We have made significant progress toward the closing of the potential transaction and look forward to being able to start the redevelopment of the Goondicum operation in the near future."
Melior Resources Inc Symbol C : MLR Shares Issued 211,468,945 Close 2014-05-14 C$ 0.135 Recent Sedar Documents View Original Document
Melior Resources change of business
2014-05-16 17:01 ET - Major Transaction Completed
The TSX Venture Exchange has accepted for filing the company's change of business, which includes the acceptance of the share sale and purchase agreement dated March 31, 2014, between Melior Resources Inc., Melior Australia Pty. Ltd. (wholly owned subsidiary of the company), and Belmont Park-Monto Pty. Ltd., Panorama Ridge-Monto Pty. Ltd. and Sashimi Investments Pty. Ltd., with respect to the acquisition of 100 per cent of the issued and outstanding shares of Belridge Enterprises Pty. Ltd. Belridge is an Australian incorporated company which owns the Goondicum ilmenite project located in Queensland, Australia.
In consideration of the acquisition of 100 per cent of the issued and outstanding shares of Belridge, the company will issue to the vendors:
## 38,087,971 shares of the company at completion date; ##Up to an additional 38,087,971 shares of the company as earn-out consideration if certain conditions are met in the future.
The company will pay to Element Capital Management Pty. Ltd., the sum of $250,000 (Australian) as a settlement sum in connection with the agreement (finder's fee) between Belridge and Element dated July 25, 2013.
The company is classified as an exploration and mining company.
Capitalization: Unlimited shares with no par value, of which 211,468,945 shares are issued and outstanding