Mart Resources Announces Securityholder Approvals for Arrangement
Mart Resources Announces Securityholder Approvals for Arrangement
CALGARY, ALBERTA--(Marketwired - Mar 3, 2016) - Mart Resources, Inc. (TSX:MMT) ("Mart" or the "Company") announced that at its special meeting of securityholders held on March 3, 2016 (the "Meeting"), Mart received approval from holders of common shares of Mart ("Mart Shareholders") and holders of options of Mart (collectively, "Mart Securityholders") for the previously announced plan of arrangement (the "Arrangement") pursuant to which, among other things, 1038821 B.C. Ltd., an indirect wholly-owned subsidiary of Midwestern Oil & Gas Company Limited, will acquire all of the outstanding common shares of Mart. Pursuant to the Arrangement, Mart Shareholders will receive, for each Mart Share held, $0.25 in cash.
The Arrangement required the approval of: (a) not less than 66 2/3% of the votes cast by Mart Shareholders present in person or represented by proxy at the Meeting, and (b) not less than 66 2/3% of the votes cast by Mart Securityholders (voting together as a single class) present in person or represented by proxy at the Meeting. The Arrangement was approved by over 91% of the votes cast at the Meeting by Mart Securityholders.
Additional information regarding Mart is available on the Company's website at www.martresources.com and under the Company's profile on SEDAR at www.sedar.com.
NEITHER THE TSX NOR ITS REGULATION SERVICES PROVIDER (AS THE TERM IS DEFINED IN THE POLICIES OF THE TSX) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE RELEASE.
Mart Resources, Inc. - London, England office
Dmitri Tsvetkov
CFO and Interim CEO
+44 207 351 7937
[email protected]
Mart Resources, Inc. - Canada
Sam Grier
403-270-1841
[email protected]
www.martresources.com
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