/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/
CALGARY, June 27, 2013 /CNW/ - Whitemud Resources Inc. ("Whitemud" and
the "Company") (NEX - "WMK.H") is pleased to announce that an
application to have the Company reinstated for trading on the NEX has
been approved by the TSXV.
In December, 2010 the regulatory authorities in the provinces of
Alberta, British Columbia, Manitoba, Ontario and Quebec (the "Reporting
Jurisdictions") issued cease trade orders (the "Cease Trade Orders")
against Whitemud for failure to file financial information in
accordance with applicable securities laws. Also, in December, 2010, a
receiver and manager of the Company was appointed under the Bankruptcy and Insolvency Act (Canada) and the TSX Venture Exchange (the "TSXV") issued a bulletin
suspending the listing of the Company's shares and reclassifying the
Company's listing from a Tier 1 company to a Tier 2 company. On
February 25, 2011, the TSXV issued a further bulletin transferring the
Company's listing to NEX effective February 28, 2011.
The issue of 16,000,000 Class "A" voting common shares (the "Common
Shares") and 326,499,700 Class "B" non-voting shares from treasury to
Kasten Energy Inc.(and it nominee(s)) as the sponsor of a proposal
submitted to and approved by various classes of creditors of Whitemud,
was approved by a court order issued by the Court of Queen's Bench of
Alberta on August 12, 2011 (the "Court Order"). Of the 16,000,000
Common Shares approved for issuance, Kasten Energy Inc. ("Kasten") was
issued 1,024,000 Common Shares and Petrogas Energy Corp. ("Petrogas")
was issued 14,976,000 Common Shares. As a result, Kasten holds
approximately 3% and Petrogas holds approximately 44% of the issued and
outstanding Common Shares. The Class "B" non-voting shares approved
under the Court Order have not yet been issued. It is not anticipated
that the Class "B" non-voting shares, when issued, will be listed for
trading on any exchange.
Following the issue of the Court Order, Whitemud made applications for
the revocation of the Cease Trade Orders previously issued by each of
the Reporting Jurisdictions. The Cease Trade Orders were lifted by the
Reporting Jurisdictions in April, 2013. Whitemud's continuous
disclosure filings are current and can be found on its profile at www.sedar.com. Following the revocation of the Cease Trade Orders, the Company
proceeded to make application for reinstatement of trading of its
Common Shares on the NEX. Whitemud has been advised by the Exchange
that trading of its Common Shares is scheduled to commence effective at
the opening Friday, June 28, 2013.
An Annual General and Special Meeting of Shareholders will be held in
Calgary, Alberta on Thursday June 27, 2013 at 10:00 a.m. at the Bow
Valley Club, 370-250-6th Avenue S.W., Calgary, Alberta. A copy of the management information
circular in respect of this meeting can be found on the Company's SEDAR
About Whitemud Resources Inc.
Whitemud is a Canadian-based corporation holding mineral rights to
exploit a large kaolin deposit in southern Saskatchewan, together with
a processing facility located on the property. Whitemud's product,
Whitemud (MK) is a cement-grade metakaolin that enhances the
performance of cement for oil and gas wells and construction
applications. The Company uses a patented process that minimizes
Neither the TSXV nor its Regulation Services Provider (as that term is
defined in the policies of the NEX) accepts responsibility for the
adequacy or accuracy of this release.
SOURCE: Whitemud Resources Inc.
For further information:
Whitemud Resources Inc.
Stan Owerko, Chief Executive Officer
Suite 3900, 205 5th Avenue SW
Calgary, Alberta T2P2V7
Telephone: (403) 266-1985
Facsimile: (403) 263-5035