NOT FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES
OF AMERICA
TORONTO, Nov. 2, 2016 /CNW/ - Melior Resources Inc.
("Melior" or the "Company") (TSXV-MLR) announced today that Mr.
Jonathan Mattiske has been appointed
to the position of Chief Financial Officer.
Mr. Mattiske has extensive knowledge and understanding of the
business and assets of the company and has worked in various
capacities with a number of other public and private companies in
the mining, engineering and technology industries. Mr. Mattiske
holds a bachelor of business degree from the University of
Technology Sydney and has completed the CPA Australia program.
Mr. Mattiske is replacing Mr. Thomas
Masney following his resignation to pursue other
opportunities. Mr. Masney will remain with the Company through
November 30, 2016 to facilitate an
orderly transition. In making the announcement, Mark McCauley, Chief Executive Officer of Melior
said: "we would like to thank Thomas for his contribution to Melior
and the hard work he has put in as Chief Financial Officer. On
behalf of Melior, we wish him the best. We look forward to working
with Jonathan who brings significant financial experience to the
Company."
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.
Going Concern Risk
As described in Melior's MD&A, the continuing operations
of the Company are dependent upon its ability to continue to raise
adequate financing, to commence profitable operations in the
future, and repay its liabilities arising from normal business
operations as they become due. There remains a significant risk
that the Corporation is unable to find alternative sources of
financing for on-going working capital requirements. These material
uncertainties cast significant doubt upon the Company's ability to
continue as a going concern.
Failure to obtain sufficient financing could result in a
delay or abandonment of the Goondicum Mine and could force the
Company into reorganization, bankruptcy or insolvency proceedings.
Additional financing may not be available when needed or, if
available, the terms of such financing might not be favourable to
the Corporation and might involve substantial dilution to existing
shareholders. Failure to raise capital when needed would have a
material adverse effect on the Company's ability to pursue its
business strategy, and accordingly could negatively impact the
Company's business, financial condition and results of
operations.
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.