RiskMetrics Group Recommends Shareholders Vote in Favour of the Acquisition of Silverstone by Silver Wheaton
May 05 2009 - 4:20PM
Marketwired
Silverstone Resources Corp. ("Silverstone") (TSX VENTURE: SST) is
pleased to announce that RiskMetrics Group (formerly Institutional
Shareholders Services), Canada's leading independent proxy advisory
firm, has recommended that its clients holding Silverstone shares,
including investment firms, pension funds, mutual funds and other
fiduciaries throughout Canada, the U.S. and the world, vote FOR the
previously announced proposed acquisition of Silverstone by Silver
Wheaton Corp. ("Silver Wheaton") by way of plan of arrangement
under the Business Corporations Act (British Columbia).
In making its recommendation, RiskMetrics noted that the
exchange ratio provided for under the plan of arrangement is at a
premium and that market prices have maintained an upward trend
since the announcement of the proposed acquisition on March 12,
2009.
"We are very pleased that, following an independent review,
RiskMetrics has recommended that Silverstone shareholders vote FOR
the proposed acquisition of Silverstone Resources by Silver
Wheaton," said Darren Pylot, President and Chief Executive Officer
of Silverstone. "The proposed acquisition would give Silverstone
shareholders ownership in the largest silver streaming company in
the world, significant trading liquidity and a strong balance
sheet."
The plan of arrangement must be approved by not less than
two-thirds of the votes cast by shareholders present in person or
represented by proxy at the Special Meeting of Silverstone
Shareholders scheduled to be held at 2:00 p.m. (Vancouver time) on
Tuesday, May 19, 2009 at the offices of Blake, Cassels &
Graydon LLP, Suite 2600, Three Bentall Centre, 595 Burrard Street,
Vancouver, British Columbia. Shareholders are reminded that the
deadline for receiving proxies is 2:00 p.m. (Vancouver time) on May
14, 2009.
Shareholders with questions about the Plan of Arrangement or the
process for submitting proxies are encouraged to call Kingsdale
Shareholder Services Inc., toll free in North America at
1-866-581-0506 or 1-416-867-2272 outside of North America.
CAUTIONARY NOTE REGARDING FORWARD LOOKING-STATEMENTS
This news release contains certain "forward-looking information"
under applicable Canadian and United States securities laws
concerning the proposed acquisition of Silverstone by Silver
Wheaton. Forward-looking statements are based on the opinions and
estimates of management at the date the statements are made, and
are based on a number of assumptions and subject to a variety of
risks and uncertainties and other factors that could cause actual
events or results to differ materially from those projected in the
forward-looking statements. Assumptions upon which forward-looking
statements related to the proposed acquisition by Silver Wheaton of
Silverstone include that the shareholders of Silverstone will
approve the plan of arrangement, that all required third party
regulatory and governmental approvals to the plan of arrangement
will be obtained and all other conditions to completion of the plan
of arrangement involving Silver Wheaton and Silverstone will be
satisfied or waived. Many of these assumptions are based on factors
and events that are not within the control of Silverstone and there
is no assurance they will prove to be correct. Silverstone is under
no obligation to update forward-looking statements if circumstances
or management's estimates or opinions should change except as
required by applicable securities laws. The reader is cautioned not
to place undue reliance of forward-looking statements.
Permission to cite the recommendation of RiskMetrics was neither
sought nor obtained.
Contacts: Silverstone Resources Corp. Mark Patchett Investor
Relations (604) 637-8151 or (866) 684-8894 (604) 688-2180 (FAX)
info@silverstonecorp.com www.silverstonecorp.com
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