VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan 11, 2017) - AQM Copper Inc. (TSX VENTURE:AQM)(AQM.V) ("AQM" or the "Company") announces that it has received a final order from the Supreme Court of British Columbia dated January 11, 2017 approving the previously announced plan of arrangement (the "Arrangement") involving AQM, Teck Resources Limited (TECK-A.TO)(TECK-B.TO)(TECK) ("Teck") and the holders ("Shareholders") of common shares ("Shares"), options and deferred share units of AQM (collectively, the "Securityholders"), pursuant to which Teck will acquire all of the issued and outstanding Shares that are not already owned by Teck or its affiliates. Pursuant to the Arrangement, Shareholders will receive, for each Share held, C$0.23 in cash.
The Arrangement required the approval of: (a) not less than 66 2/3% of the votes cast by Securityholders present in person or represented by proxy at the special meeting of Securityholders held January 9, 2017 (the "Meeting"); and (b) a simple majority of the votes cast by Shareholders at the Meeting after excluding the votes cast by those persons whose votes must be excluded pursuant to Multilateral Instrument 61-101- Protection of Minority Security Holders in Special Transactions.
Of the votes cast at the Meeting, 99.90% of the Securityholders voted in favour of the special resolution approving the Arrangement (99.79% after excluding the votes cast by those persons whose votes must be excluded in determining minority approval for the Arrangement pursuant to MI 61-101).
The Arrangement is expected to close on January 13, 2017, following which date AQM will be delisted from the TSX Venture Exchange.
NEITHER THE 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 REGARDING FORWARD-LOOKING INFORMATION
Except for statements of historical fact relating to AQM Copper Inc., certain information contained herein constitutes "forward-looking statements" as such term is used in applicable Canadian securities laws. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as "expects", "anticipates", "plans", "believes", "considers", "intends", "targets", or negative versions thereof and other similar expressions, or future or conditional verbs such as "may", "will", "should", "would" and "could" in particular, statements related to the Arrangement and the expected completion thereof. We provide forward-looking statements for the purpose of conveying information about our current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include, but are not limited to, risks related to being unable to close the Arrangement in the time frames indicated, failure to satisfy all conditions precedent to the Agreement including approval of the TSX-V and applicable regulatory authorities.
Other than as specifically required by law, we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made, or to reflect the occurrence of unanticipated events, whether as a result of new information, future events, results or otherwise.