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MGM Energy Corp enters into arrangement agreement with Paramount Resources Ltd.


Monday, 14 Apr 2014 11:11pm EDT 

MGM Energy Corp:Enters into formal arrangement agreement with Paramount Resources Ltd whereby Paramount would acquire all of common shares of MGM Energy not currently owned by Paramount.Pursuant to arrangement agreement, Paramount would acquire common shares not owned by it pursuant to arrangement under Business Corporations Act (Alberta).Says under terms of arrangement, all shareholders of MGM Energy other than Paramount would receive one Class A common share of Paramount for every 300 common shares of MGM Energy.MGM Energy board has unanimously approved arrangement and arrangement agreement and resolved to recommend that MGM Energy shareholders vote in favour of arrangement. 

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