Melior Resources Executes Amendment to Loan Facility with Pala Investments

February 05, 2019

Melior Resources Inc. (TSXV:MLR), the owner and operator of the Goondicum ilmenite and apatite mine located in Queensland, Australia, completed an amendment to the loan agreement it entered into with Pala Investments Limited dated August 9, 2018 as amended on November 16, 2018. Pursuant to the terms of the second amended agreement, the principal amount of the loan facility available to Melior was increased by US$2,000,000 to US$15,750,000, Pala was issued 750,000 common shares of Melior and the 3,250,000 share purchase warrants issued to Pala in connection with the first amended agreement were cancelled.

Wildeboer Dellelce LLP acted as counsel for Melior in connection with the amendment with a team that consisted of Charlie Malone and Ragu Anantharajah (corporate/securities) and Chris Partridge and Victoria Everett (debt products).