News Release - 0915988 B.C. LTD.
CNW Group13 hours ago
VANCOUVER, March 11, 2013 /CNW/ - 0915988 B.C. Ltd. (the "Company") announced that it has entered into an Arrangement Agreement (the "Arrangement Agreement") providing for the acquisition of all of the Company's issued and outstanding common shares by MFC Industrial Ltd. by way of a plan of arrangement under the Business Corporations Act (British Columbia) (the "Arrangement").
The consideration under the Arrangement to be paid to the Company's shareholders is $0.02 per common share.
Completion of the Arrangement is subject to customary conditions, including, among other things, approval of the Arrangement by: (i) not less than 66⅔% of the votes cast by shareholders, in person or by proxy, at the Meeting; and (ii) a majority of the votes cast by shareholders, excluding votes cast by the acquirer, pursuant to Multilateral Instrument 61-101 and the receipt of required court approvals. The Company anticipates the meeting to occur on or about April 16, 2013 and the Arrangement to be completed shortly thereafter (the "Meeting"). Further information respecting the Arrangement will be included in the materials related to the Meeting.
My 'guess' would be this is 'housekeeping' of one sort or another...
I was always under the impression that 0915988 b.c. was primarily controlled by MFC and, unless I'm wrong, today's announcement is getting rid of the paperwork needed for separate reporting...But, that's just a guess on my part...The "contact" name on the release is "out of town".
In the meantime, Niton's "announcement" should be showing-up any day now...If we're gonna close by the end of the month (effective 3/1) the "news" can't be too far off. I still think that's gonna be BIG!