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:
Chief Financial Officer