/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE U.S.A./
CALGARY, April 25 /CNW/ - Management of BlueGrouse Seismic Solutions Ltd.
(TSX-V: BGH) ("BlueGrouse") would like to remind shareholders and
debentureholders of BlueGrouse of the annual and special meeting of
shareholders to be held at 9:00 a.m. on Tuesday, May 1, 2007 and the meeting
of debentureholders of BlueGrouse to be held at 11:00 a.m. on Tuesday May 1,
2007. Both meetings will be held at the Calgary Aquitaine Tower, 540 - 5th
Avenue S.W., Calgary, Alberta, in the Plus 15 Conference Room.
As previously announced on March 1, 2007, BlueGrouse has entered into an
Arrangement Agreement with Divestco Inc. ("Divestco") and 1286960 Alberta Ltd.
effectively providing for the acquisition by Divestco Inc. ("Divestco") of
BlueGrouse pursuant to a plan of arrangement (the "Arrangement"). An annual
and special meeting of shareholders of BlueGrouse has been called for May 1,
2007 at 9:00 a.m. in Calgary, Alberta to consider a special resolution to
approve the Arrangement pursuant to section 193 of the Business Corporations
Act (Alberta). In addition, a meeting of debentureholders of BlueGrouse has
been called for May 1, 2007 at 11:00 a.m. in Calgary, Alberta to consider an
extraordinary resolution approving the exchange of all outstanding BlueGrouse
debentures for Divestco debentures.
Meeting materials were mailed to shareholders and debentureholders of
BlueGrouse. Such documents are available on SEDAR at www.sedar.com under
BlueGrouse's profile or may be obtained from the Chief Executive Officer of
BlueGrouse at 1700, 540 - 5th Avenue S.W., Calgary, Alberta, T2P 0M2,
telephone (403) 264-4224; fax (403) 264-4446.
Shareholders and debentureholders of BlueGrouse should carefully review
the meeting material which provides more detailed information regarding the
Arrangement and how to vote their securities. Shareholders and
debentureholders of BlueGrouse are encouraged to complete, sign and date the
form of proxy accompanying the Circular and to deposit such proxy at the
office of BlueGrouse, 1700, 540 - 5th Avenue S.W., Calgary, Alberta T2P 0M2 or
c/o Computershare Trust Company of Canada, 600, 530 - 8th Avenue S.W.,
Calgary, Alberta no later than 4:00 p.m. on April 30, 2007, or with the
chairman of the meetings prior to their commencement, so that their securities
can be voted at the meetings in accordance with their instructions.
No person has been authorized to give any information or make any
representation in connection with the Arrangement or any other matters to be
considered at the Meeting other than those contained in the meeting material
and, if given or made, any such information or representation must not be
relied upon as having been authorized.
BlueGrouse Seismic Solutions Ltd. is a Calgary-based company focused on
providing the oil and natural gas industry with quick, reliable access to
cost-effective, high-resolution seismic data. BlueGrouse has four main
components to its business model: Data Library, Multi-Client Services, Data
Brokerage and Data Management.
BlueGrouse trades on the TSX Venture Exchange under the symbol BGH.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
Certain information contained herein may constitute forward-looking
statements under applicable securities laws. Such statements are subject to
known or unknown risks and uncertainties that may cause actual results to
differ materially from those anticipated or implied in the forward-looking
statements. Forward-looking statements are based upon management's
assumptions, expectations and estimates at the time that such statements are
made. BlueGrouse does not update forward-looking statements should
circumstances change or management's assumptions, or expectations change.
For further information:
For further information: Todd A. Chuckry, President and Chief Executive
Officer, (403) 264-4224; or Stan G. Weber, Chief Financial Officer, (403)