TORONTO, June 18 /CNW/ - Strategic Resource Acquisition Corporation
("SRA") reports that an overwhelming majority of its creditors ("Affected
Creditors") voted in favour of its Plan of Compromise and Arrangement dated
May 11, 2009 (the "CCAA Plan") filed in connection with SRA's proceedings
under the Companies' Creditors Arrangement Act (the "CCAA Proceedings") at
yesterday's meeting of Affected Creditors (the "Creditors' Meeting").
Of the Affected Creditors who voted in person or by proxy at the
Creditors' Meeting, 98.36% in head count and 99.85% in value of claims of
Affected Creditors voted in favour of the CCAA Plan. SRA will be seeking court
approval of the CCAA Plan on June 26, 2009 (the "Sanction Hearing"). Should
the Court approve the CCAA Plan at the Sanction Hearing, SRA expects to emerge
from its CCAA Proceedings shortly thereafter.
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