MELCOR POSTPONES ANNUAL GENERAL MEETING DATE

EDMONTON, Alberta, April 01, 2020 (GLOBE NEWSWIRE) -- Melcor Developments Ltd. (TSX:MRD) announced today that it is postponing its annual general meeting (AGM) until June 25, 2020 in response to the COVID-19 pandemic and the current restriction on gatherings of larger than fifteen people in Alberta.

Darin Rayburn, President and Chief Executive Officer of Melcor commented: "Delaying our annual general meeting in the rapidly evolving COVID-19 environment is another of the measured and intentional actions we are taking to both stop the spread of the virus and position Melcor to respond with agility to the potential economic impact on our business. We are continuing to monitor the situation and respond accordingly. We will continue to keep all stakeholders informed and appreciate your ongoing support."

Further details about Melcor's AGM and how it will be handled in this new environment will be made available at a later date.

For more information on Melcor's COVID-19 response, please visit: https://www.melcor.ca/media/latest-news/melcor-response-to-covid-19/ 

About Melcor Developments Ltd.

Melcor is a diversified real estate development and asset management company that transforms real estate from raw land through to high-quality finished product in both residential and commercial built form. Melcor develops and manages mixed-use residential communities, business and industrial parks, office buildings, retail commercial centres and golf courses. Melcor owns a well-diversified portfolio of assets in Alberta, Saskatchewan, British Columbia, Arizona and Colorado.

Melcor has been focused on real estate since 1923. The company has built over 140 communities across western Canada and today manages over 4.5 million sf in commercial real estate assets and over 600 residential rental units. Melcor is committed to building communities that enrich quality of life ? communities where people live, work, shop and play.

Melcor's headquarters are located in Edmonton, Alberta, with regional offices throughout Alberta and in British Columbia and Phoenix, Arizona. Melcor has been a public company since 1968 and trades on the Toronto Stock Exchange (TSX:MRD). www.melcor.ca