TORONTO, ONTARIO--(Marketwire - June 29, 2012) - Asian Mineral Resources Limited ("AMR") (TSX VENTURE:ASN) and Melior Resources Inc. ("Melior") (TSX VENTURE:MLR) announced today that they have completed the previously announced strategic investment by Melior in AMR whereby Melior purchased 50,000,000 common shares of AMR (the "AMR Shares") at CDN$0.11 per AMR Share for total consideration of CDN$5,500,000 (the "Strategic Investment").
All securities issued to Melior pursuant to the closing of the Strategic Investment will be subject to a four-month statutory hold period, which will expire on October 30, 2012.
Concurrent with the completion of the Strategic Investment, AMR and Melior have also entered into an investor rights agreement pursuant to which AMR has granted Melior the right to designate one nominee to be appointed to the Board of Directors of AMR. After closing of the Strategic Investment, Melior owns and controls, directly and indirectly, a total of 50,000,000 AMR Shares representing approximately 13.8% of the issued and outstanding AMR Shares on an undiluted basis. The AMR Shares were acquired by Melior under a private placement from AMR for investment purposes and Melior may increase or decrease its investment in AMR depending upon future market conditions. For the issuance of the AMR Shares, AMR and Melior relied on the minimum amount investment exemption under Section 2.10 of National Instrument 45-106 Prospectus and Registration Exemptions. Melior's address is 120 Adelaide Street West, Suite 2500, Toronto, ON M5H 1T1.
Neither 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.