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WestFire Energy Ltd and Guide Exploration Ltd. Announce Shareholder And Court Approvals Of Strategic Business Combination


Tuesday, 23 Oct 2012 08:20am EDT 

WestFire Energy Ltd and Guide Exploration Ltd. announced that holders of common shares of Guide have approved the previously announced plan of arrangement (the Arrangement) pursuant to which Guide Shareholders will receive 0.4167 of a common share of WestFire for each Guide Share held and Guide and WestFire will amalgamate and continue under the name Long Run Exploration Ltd. The Arrangement was approved by Guide Shareholders holding approximately 99% of the Guide Shares who voted on the Arrangement at the special meeting of Guide Shareholders held on October 22, 2012. At the annual and special meeting of holders of WestFire Shares held on October 22, 2012, WestFire received the requisite WestFire Shareholder approvals in connection with the Arrangement, including: (i) the issuance of up to 44,000,000 WestFire Shares pursuant to the Arrangement; (ii) the creation of first preferred shares as a class of shares of WestFire; (iii) the change of name of WestFire to Long Run Exploration Ltd.; and (iv) the appointment of William E. Andrew, Dale A. Miller, Michael Y. McGovern, Edward Chwyl, Michael M. Graham, Paul Dimitriadis, John A. Brussa, Jeffery E. Errico, Bradley R. Munro and Patricia M. Newson, as directors of WestFire following completion of the Arrangement. Guide also received approval of the Arrangement by the Court of Queen's Bench of Alberta on October 22, 2012. The Arrangement is expected to become effective on October 23, 2012. 

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5.56
-0.09 -1.59%
11 Jul 2014