TORONTO, June 29 /CNW/ - Arris Resources Inc. (the "Company" or "Arris")
has announced that the Supreme Court of British Columbia has provided final
approval for the Company's previously announced plan of arrangement (the
"Arrangement") by order dated June 22, 2009.
Under the Arrangement, Arris Resources will transfer to InCana
Investments Inc. ("InCana"), a wholly-owned subsidiary of the Company,
$100,000 and all of the Company's interest in and to the single family
residential zoned property (the "Property") located in Surrey, British
Columbia, approximately thirty-five kilometers from Vancouver, British
Columbia, in exchange for 15,043,372 common shares of InCana (the "InCana
Common Shares"), which will be distributed to Arris Resources' shareholders as
at the close of business on July 6, 2009, being the Share Distribution Record
Date. Upon closing of the Arrangement, each Arris Resources' shareholder, as
of the Share Distribution Record Date, will receive its pro-rata share of the
InCana Common Shares to be distributed under the Arrangement for each
currently held Arris Resources share.
Arris will begin trading ex-distribution on Thursday, July 2, 2009.
Ex-distribution Date: Thursday, July 2, 2009
Record Date: Monday, July 6, 2009
For further information:
For further information: Radhika Ramkarran at (416) 572-2000 X 2435 or