Melior Resources Inc. Modifies Compensation Arrangement
11.01.2012 | Marketwire
TORONTO, ONTARIO -- (Marketwire - Jan. 11, 2012) - Melior Resources Inc. (formerly Coalcorp Mining Inc.) (TSX VENTURE: MLR) (“Melior“) announces that, as a result of certain U.S. tax regulations relating to share-based compensation arrangements, its previously disclosed compensation arrangement with its Chief Executive Officer, Dr. Charles Entrekin, pursuant to which a portion of Dr. Entrekin's base salary of US$12,000 per month (less certain deductions) was to be paid in the form of common shares of Melior, has been modified such that Dr. Entrekin's base salary will now be paid entirely in cash. In addition to his base salary, Dr. Entrekin also receives an annual retainer for his services as a director and for his services as a member of certain committees of the board of directors, as well as fees for attendance at board and audit committee meetings.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.
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.
Contact Information
Melior Resources Inc.
Rishi Tibriwal
Chief Financial Officer
416-644-1217
info@meliorresources.com
www.meliorresources.com