02:20:22 EDT Sun 16 May 2021
Enter Symbol
or Name
USA
CA



Login ID:
Password:
Save
Melior Resources Inc (2)
Symbol MLR
Shares Issued 28,979,978
Close 2018-07-03 C$ 0.85
Recent Sedar Documents

Melior Resources to hold special meeting Aug. 29

2018-07-03 18:35 ET - News Release

An anonymous director reports

MELIOR FILES NOTICE OF SPECIAL MEETING OF SHAREHOLDERS REGARDING CONTINUANCE FROM CANADA TO AUSTRALIA

Melior Resources Inc. today issued a notice of record and meeting date for a special meeting of shareholders to be held on Wednesday, Aug. 29, 2018, at 10 a.m. The meeting will take place at the offices of Wildeboer Dellelce LLP, Suite 800, 365 Bay St., Toronto, Ont.

The purpose of the meeting will be for shareholders to vote on the company's proposed continuance from British Columbia to Australia and associated resolutions in connection with the redomiciling of the company. Should the continuance proceed and the company is registered in Australia, the company intends, at the appropriate time and in compliance with all relevant laws, to make an application to the Australian Securities Exchange for official quotation of its shares. The company will also remain listed on the TSX Venture Exchange, and the continuance is not conditional on the ASX listing occurring. In connection with the continuance, it is also proposed that the company's name will change to Melior Resources Ltd. At this time, the company does not satisfy all of the criteria for eligibility to apply to the ASX for official quotation of its shares, and there can be no guarantee that ASX will grant official quotation of its shares.

Consistent with the company's strategy of restarting production at the Goondicum ilmenite and phosphate rock project by November this year, and building off that to acquire and develop additional industrial minerals projects, the registration in Australia is expected to provide Melior with a number of benefits, including:

  • Easier access to a listing on the ASX, which, if pursued, would provide exposure to a greater number of prospective investors, increased liquidity from a larger investor base, and greater flexibility for share-based merger and acquisition transactions;
  • More efficient corporate structure with a single tax jurisdiction, reducing tax inefficiencies;
  • Given that the company's presence in Canada is limited and that it is focused on operations in Australia, there will be significant synergies available to the company in respect of financial reporting and regulatory requirements.

The company has sought advice from its professional advisers in respect of the proposed continuation. It is anticipated that the change will have no adverse taxation impacts to existing shareholders.

More comprehensive details will be provided in the management information circular to be sent to shareholders in connection with the meeting. The proposed continuance and name change are subject to the approval of the TSX-V.

About Melior Resources Inc.

Melior is the owner and operator of the Goondicum mine, a past-producing ilmenite and apatite mine strategically located in Queensland, Australia.

We seek Safe Harbor.

© 2021 Canjex Publishing Ltd. All rights reserved.