News Column

Acquisition of Shares of Melcor Developments Ltd. ("Melcor")

August 7, 2014



EDMONTON, ALBERTA--(Marketwired - Aug. 7, 2014) - Further to disclosure requirements of applicable securities laws, Melton Holdings Ltd. ("Melton Holdings") reports that on August 6th, 2014:

a. Melton Holdings acquired 1,080,497 common shares of Melcor (the "Common Shares") pursuant to the conversion of its $20,000,000 principal amount 6.25% Convertible Unsecured Subordinated Debentures (the "Debentures") at a conversion price of $18.51 per Common Share; and b. its affiliate, Cavell Holdings Inc. ("Cavell"), acquired 108,049 Common Shares pursuant to the conversion of its $2,000,000 principal amount Debentures at a conversion price of $18.51 per Common Share; (the foregoing collectively referred to as the "Acquisition").



Upon completion of the Acquisition, Melton Holdings beneficially owned and/or controlled 15,688,347 Common Shares or approximately 50.85% of the total issued and outstanding Common Shares, and Cavell beneficially owned and/or controlled 1,830,709 Common Shares or approximately 5.93% of the total issued and outstanding Common Shares.

It should also be noted that, Mr. Timothy C. Melton, the sole shareholder of Cavell, has beneficial ownership of an additional 50,000 Common Shares. Accordingly, upon completion of the Acquisition, Cavell and Mr. Timothy C. Melton beneficially owned and/or controlled 1,880,709 Common Shares, in aggregate, representing 6.10% of the issued and outstanding Common Shares.

This press release is issued pursuant to Multilateral Instrument 62-103 which also requires a report to be filed with regulatory authorities in each of the jurisdictions containing additional information with respect to the foregoing matters (the "Early Warning Report"). A copy of the Early Warning Report will appear with Melcor's documents on the SEDAR website, at www.sedar.com.

Melton Holdings Ltd.Timothy C. Melton, Director FOR FURTHER INFORMATION PLEASE CONTACT: Melton Holdings Ltd. c/o 10310 Jasper Avenue, Suite 900 Edmonton, AB, T5J 1Y8 Tel: (780) 945-2819 Source: Melton Holdings Ltd.


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Source: Marketwire (Canada)


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