|
|
|
|
||
ApprovedFWIW Arcan Plan of Arrangement Approved by Shareholders and Court CALGARY, ALBERTA--(Marketwired - June 2, 2015) - Arcan Resources Ltd. (TSX VENTURE:ARN) ("Arcan" or the "Company") is pleased to announce that the proposed plan of arrangement (the "Arrangement") involving the acquisition of Arcan by Aspenleaf Energy Limited ("Aspenleaf") was approved at the special meeting of shareholders called to consider the Arrangement, and has been approved by the Alberta Court of Queen's Bench (the "Court"). The shareholder meeting was held in accordance with the interim order of the Court dated May 4, 2015. Approval of the Arrangement required approval by two thirds of those voting in person or by proxy at the meeting. Approximately 98.9% of the shareholders voting at the shareholder meeting in person or by proxy voted in favour of the resolution approving the Arrangement. Arcan subsequently applied for and received a final order of the Court approving the Arrangement. Arcan and Aspenleaf are working to satisfy the remaining conditions and complete the documents to give effect to the Arrangement. Arcan and Aspenleaf currently expect to be in a position to complete the Arrangement early next week. Further information about the Arrangement is set forth in the information circular and proxy statement in respect of the shareholder meeting which has been filed under Arcan's profile on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com as well as on the Company's website at www.arcanres.com. Arcan Resources Ltd. is an Alberta, Canada corporation that is principally engaged in the exploration, development and acquisition of petroleum and natural gas located in the Western Canada Sedimentary Basin. Additional information about the Company, including the Company's annual information form for the year ended December 31, 2014, is available under Arcan's profile on SEDAR at www.sedar.com. |
return to message board, top of board |