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Melior Resources Terminates Bridge Loan and Provides Update on Friendly Acquisition of Firestone Ventures

Aug 30 2013 12:00AM

Marketwire

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TORONTO, ONTARIO -- (Marketwired) -- 08/30/13 -- Melior Resources Inc. (TSX VENTURE: MLR) ("Melior") announced today that it has terminated the previously announced the bridge loan (the "Bridge Loan") of up to C$500,000 with Firestone Ventures Inc. ("Firestone"). No amounts have been advanced under the Bridge Loan to date. Melior also announced that it no longer intends to proceed with its proposed friendly acquisition of Firestone, as set out in the previously announced letter of intent.

Melior intends to continue pursuing its business strategy of investing and aiding growth in projects in the mining, metallurgical and mineral industries.

About Melior

Melior is an investment company with a focus on making strategic investments in resource-based opportunities offering capital appreciation potential, in particular debt or equity participation in investee companies with projects nearing maturity.

FORWARD LOOKING STATEMENTS

This news release may contain certain statements regarding future events, results or outlooks that are considered forward looking statements within the meaning of securities regulation. These forward looking statements reflect management's best judgment based on current facts and assumptions that management considers reasonable and include the words "anticipate", "believe", "could", "estimate", "expect", "intend", "may", "plan", "potential" and "should". Forward looking statements contain significant risks and uncertainties. A number of circumstances could cause results to differ materially from the results discussed in the forward looking statements including, but not limited to, changes in general economic and market conditions, metal prices, political issues, permitting, environmental, exploration and development success, continued availability of capital and other risk factors. The forward looking statements contained in this document are based on what management of Melior and Firestone believes to be reasonable assumptions, however, we cannot assure that the results will be compatible to the forward looking statements as management assumes no obligation to revise them to reflect new circumstances. Readers should not place reliance on forward looking statements.

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.



Contacts:
Melior Resources Inc.
Charles Entrekin
Chairman and Chief Executive Officer
416-644-1217





Source: Marketwire


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