VANCOUVER, Sept. 20, 2018 /CNW/ - BONTERRA RESOURCES INC.
("Bonterra") (TSX-V:BTR, US:BONXF, FSE:9BR1) is pleased to
announce that it has received today a final order of the Supreme
Court of British Columbia in
respect of its previously announced plan of arrangement (the
"Bonterra Arrangement". The Bonterra Arrangement, which
involves spinning out of certain assets of Bonterra to Gatling
Exploration Inc. ("Bonterra Spinco" or "Gatling"),
was approved by shareholders and optionholders of Bonterra at a
special meeting of the Bonterra securityholders held earlier this
week.
Securityholders of Metanor Resources Inc. ("Metanor")
also approved a plan of arrangement (the "Metanor
Arrangement") at a special meeting of the Metanor
securityholders held earlier this week. Under the Metanor
Arrangement, Bonterra will acquire all of the outstanding common
shares of Metanor. Metanor will seek a final order of the Superior
Court of Quebec in respect of the
Metanor Arrangement on September 21,
2018.
Both arrangements remain subject to final approval by the TSX
Venture Exchange ("TSX-V") and are expected to close on
September 24, 2018. The Bonterra
Arrangement will be completed first, followed immediately by the
Metanor Arrangement. Under the Bonterra Arrangement, Bonterra
shareholders of record at the close of business on Friday, September 21, 2018, will receive one
common share of Gatling for every seven common shares of Bonterra
held. Upon completion of the Metanor Arrangement, all of
shares of Metanor shall be owned by Bonterra. Holders of Metanor
shares will not have any right to receive any Bonterra Spinco
shares under the Bonterra Arrangement.
Additional information regarding the terms of the Bonterra
Arrangement are set out in Bonterra's management information
circular dated August 15, 2018, which
is available under Bonterra's profile at www.sedar.com.
ON BEHALF OF THE BOARD OF DIRECTORS,
Nav Dhaliwal, President &
CEO
Bonterra Resources Inc.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Cautionary Statement: Certain information contained in this
press release constitutes "forward-looking information", within the
meaning of Canadian legislation concerning the completion of the
Bonterra Arrangement and the Metanor Arrangement. Generally, these
forward-looking statements can be identified by the use of
forward-looking terminology such as "plans", "expects" or "does not
expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or state that
certain actions, events or results "may", "could", "would", "might"
or "will be taken", "occur", "be achieved" or "has the potential
to". Forward looking statements contained in this press release may
include statements regarding Bonterra's and Metanor's ability to
complete the Bonterra Arrangement and Metanor Arrangement,
respectively, and the anticipated effective date of the Bonterra
Arrangement and Metanor Arrangement, which involve known and
unknown risks and uncertainties which may not prove to be accurate.
Actual results and outcomes may differ materially from what is
expressed or forecasted in these forward-looking statements. Such
statements are qualified in their entirety by the inherent risks
and uncertainties surrounding future expectations. Among those
factors which could cause actual results to differ materially are
the following: uncertainties as to the timing of the Bonterra
Arrangement and Metanor Agreement and satisfaction of the
respective conditions thereto, market conditions and other risk
factors listed from time to time in Bonterra's and Metanor's
reports filed with Canadian securities regulators on SEDAR at
www.sedar.com. The forward-looking statements included in this
press release are made as of the date of this press release and
both Bonterra and Metanor disclaim any intention or obligation to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as
expressly required by applicable securities legislation.
View original
content:http://www.prnewswire.com/news-releases/bonterra-receives-final-court-approval-of-arrangement-300716606.html
SOURCE Bonterra Resources Inc.