EDMONTON, ALBERTA--(Marketwired - April 23, 2015) - Melcor Developments Ltd. (TSX:MRD), an Alberta-based real estate development and asset management company, today announced the results of its annual general meeting (AGM), held on April 23, 2015. A total of 26,094,242 units were voted in person or by proxy, representing 78.79% of the outstanding units as of the record date. Unitholders approved all items of business before the AGM, including the election of trustees as follows:

Nominee % Votes For % Votes Withheld
Gordon J. Clanachan 97.84 % 2.16 %
Ross A. Grieve 98.08 % 1.92 %
Andrew J. Melton 97.82 % 2.18 %
Timothy C. Melton 97.80 % 2.20 %
Eric P. Newell 93.12 % 6.88 %
Catherine M. Roozen 98.08 % 1.92 %
Allan E. Scott 98.07 % 1.93 %
Ralph B. Young 96.03 % 3.97 %

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 has been focused on real estate since 1923. The company has built over 90 communities across Western Canada and today manages over 3.3 million sf in commercial real estate assets and 1,286 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 Arizona. Melcor has been a public company since 1968 and trades on the Toronto Stock Exchange (TSX:MRD).

Forward-Looking Statements

Certain information set forth in this news release, including the expected timing for announcing the current market price to be used to calculate the number of Common Shares that each holder of Debentures will receive on the redemption of the Debentures may contain forward-looking statements, and necessarily involve risks and uncertainties, certain of which are beyond Melcor's control. Actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that Melcor will derive therefrom. Additional information on these and other factors that could affect Melcor are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com). Furthermore, the forward-looking statements contained in this news release are made as of the date of this news release, and Melcor does not undertake any obligation to update publicly or to revise any of the included forward looking statements, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities law.

Contact Information:

Business Contact: Melcor Developments Ltd.
Brian Baker
Chief Executive Officer

Investor Relations: Melcor Developments Ltd.
Jonathan Chia, CA
Chief Financial Officer