VANCOUVER, British Columbia, Sep 30, 2021 (GLOBE NEWSWIRE) – Melior Resources Inc. (TSXV: “MLRâ) (âBetter“or the”Society“) refers to its press release dated June 28, 2021 regarding the notice of default received from Pala Investments Ltd (“Pala“) and the resulting standstill agreement with Pala.
The Company announces that it has today entered into a new standstill amending agreement with Pala under which Pala has agreed to extend the standstill period until October 31, 2021.
In addition, Melior today also entered into another amended promissory note (the âAmended promissory note“) with Pala extending the loan term from September 30, 2021 to October 31, 2021. All other terms of the amended promissory note remain unchanged.
The Company is pleased to announce that the TSX Venture Exchange (âTSXVâ) has conditionally approved the proposed reverse takeover transaction (the âTransactionâ) with Ranchero Gold Corp. (âRancheroâ), and the resulting company’s listing on the TSX Venture Exchange. Final approval of the TSXV is subject to Melior and Ranchero meeting certain conditions required by the TSXV, including the approval of the majority of the shareholders of the Company.
Please see the Company’s press releases dated November 2, 2020, February 18, 2021, July 13, 2021, July 19, 2021 and August 4, 2021 for details of the transaction. Additional information will also be available in the Company’s filing statement to be filed under the Company’s profile on SEDAR at www.sedar.com.
MELIOR RESOURCES INC.
+41 41 560 9070
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.
Completion of the Transaction is subject to a number of conditions, including, but not limited to, shareholder approval. The Transaction cannot be completed until shareholder approval has been obtained. There can be no assurance that the Transaction will be completed as offered or at all.
Investors are cautioned that, unless otherwise specified in the statement of deposit to be prepared in connection with the transaction, any information disclosed or received regarding the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of the Company should be regarded as highly speculative.
The TSX Venture Exchange has in no way passed upon the merits of the transaction and has neither approved nor disapproved the contents of this press release.
Caution Regarding Forward-Looking Statements
This press release contains certain forward-looking statements. Any statement that expresses or involves discussions regarding predictions, expectations, beliefs, plans, projections, goals, assumptions, or future events or performance (often, but not always, using words or phrases such as that âexpectsâ or âdoes not expectâ, âis expectedâ, âanticipatesâ or âdoes not anticipateâ, âplansâ, âestimatesâ or âintendsâ or affirming that certain actions, events or results âcouldâ, âcouldâ, âcouldâ, âcouldâ or âwill beâ taken, will occur or will be realized) are not statements of historical fact and may be âforward-looking statementsâ. Forward-looking statements contained in this press release may include, without limitation, the completion of the Transaction.
Forward-looking statements are subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those reflected in the forward-looking statements. These risks and uncertainties include, but are not limited to: risks associated with regulatory approval and shareholder approval, including TSXV approval, responsibilities inherent in the development and production of the mine; geological risks, risks associated with the effects of the COVID-19 virus, financial markets in general, satisfaction or waiver of the conditions precedent to the Operation, the Company’s ability to complete the Operation and obtain acceptance required by TSX Venture Exchange and shareholder approvals. There can be no assurance that forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. The Company assumes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions change, except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.