Bellamont Announces Approval of Plan of Arrangement by Bellamont Shareholders
March 22 2012 - 1:00PM
PR Newswire (Canada)
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DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS
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CALGARY, March 22, 2012 /CNW/ - Bellamont Exploration Ltd.
("Bellamont") is pleased to announce that the shareholders of
Bellamont have today voted to approve the previously announced plan
of arrangement (the "Arrangement") which provides for the
acquisition of all of the outstanding common shares of Bellamont by
Storm Resources Ltd. The Arrangement was approved by 88.4% of
the Bellamont shares voted at the meeting and 88.0% of the votes
cast by Bellamont shareholders after excluding the votes of a
director and officer of Bellamont in accordance with Multilateral
Instrument 61-101 - Protection of Minority Security Holders in
Special Transactions. The completion of the Arrangement requires
the final approval of the Court of Queen's Bench of Alberta.
A hearing before the Court of Queen's Bench to obtain final
approval is scheduled for 1:30 p.m. (Calgary time) on March 22,
2012. Assuming the final approval is obtained, the
Arrangement is anticipated to close on March 23, 2012.
FORWARD-LOOKING INFORMATION Certain statements included in this
press release constitute forward-looking statements under
applicable securities legislation. More particularly, this press
release contains a statement concerning the anticipated date for
the completion of the Arrangement. This completion date relies on
certain assumptions that Bellamont believes are reasonable at this
time, including assumptions as to the timing of receipt of the
necessary regulatory and court approvals and the necessary
conditions to the completion of the Arrangement. This date may
change for a number of reasons, including the inability to secure
necessary regulatory or court approvals in the time needed or the
need for additional time to satisfy the conditions of the
Arrangement. The Arrangement may be completed later than stated or
not at all. Such forward-looking statements are based on a number
of assumptions which may prove to be incorrect. Although Bellamont
believes that the expectations reflected in such forward-looking
statements are reasonable, undue reliance should not be placed on
forward-looking statements because Bellamont can give no assurance
that such expectations will prove to be correct. The
forward-looking statements contained in this press release are made
as of the date hereof and Bellamont undertakes no obligation to
update publicly or revise any forward-looking statement or
information, whether as a result of new information, future events
or otherwise, unless so required by applicable securities laws.
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. Bellamont Exploration Ltd. CONTACT: Steve
MoranPresident & CEOBellamont Exploration Ltd.Telephone: (403)
802-1355
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