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CALGARY, March 22, 2012 /CNW/ - Bellamont Exploration Ltd. ("Bellamont") (TSXV:BMX.A) 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.
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.
President & CEO
Bellamont Exploration Ltd.
Telephone: (403) 802-1355