Melior Obtains Approval for Compensation Agreement

TORONTO, Nov. 14, 2011 /CNW/ - Melior Resources Inc., formerly Coalcorp Mining Inc. (TSXV: MLR) ("Melior") announces that the TSX Venture Exchange ("TSXV") has approved the issuance of common shares of Melior ("Shares") in accordance with the terms of a compensation agreement (the "Agreement") entered into with Melior's Chief Executive Officer, Dr. Charles Entrekin.

Pursuant to the Agreement, one quarter of Dr. Entrekin's base salary of US$12,000 per month, less certain deductions, will be paid in the form of Shares.  The number of Shares issuable each month will be calculated based on the volume weighted average trading price of the Shares on the TSXV for the five trading days immediately preceding the applicable month-end.  The aggregate number of Shares issued or issuable pursuant to the Agreement in any year will not exceed 1% of the issued and outstanding Shares from time to time.  The Shares will be subject to a hold period of four months in accordance with the policies of the TSXV.

Forward Looking Statements Disclaimer

Statements made in this news release may be forward-looking and therefore subject to various risks and uncertainties. Such statements can typically be identified by terminology such as ''may'', ''will'', ''could'', ''should'', ''expect'', ''plan'', ''anticipate'', ''believe'', ''intend'', ''possible'', ''continue'', "objective" or other similar expressions concerning matters that are not historical facts. Certain material factors or assumptions are applied in making forward-looking statements and actual results may differ materially from those expressed or implied in such statements. Melior does not undertake to update any forward-looking statements; such statements speak only as at the date made.

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.

SOURCE Melior Resources Inc.

For further information:

Steven Cresswell
Chief Financial Officer
416-644-1217
info@meliorresources.com

Profil de l'entreprise

Melior Resources Inc.

Renseignements sur cet organisme


FORFAITS PERSONNALISÉS

Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .

ADHÉSION À CNW

Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.

RENSEIGNEZ-VOUS SUR LES SERVICES DE CNW

Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.