CALGARY, June 25 /CNW/ - Aston Hill Financial Inc. ("Aston Hill") (TSXV:
AHF) along with Infra-PSP Canada Inc., a wholly-owned subsidiary of the Public
Sector Pension Investment Board is pleased to announce that it has received
the approvals of Thunder Energy Trust ("Thunder") unitholders, exchangeable
shareholders and convertible debenture holders at special meetings held on
Friday, June 22, 2007 to the previously announced acquisition of Thunder.
The arrangement has also received the approval of the Court of Queen's
Bench of Alberta. The closing of the arrangement was completed June 22, 2007
in escrow pending the filing of the articles of arrangement on June 26, 2007.
It is currently expected that the units and debentures of Thunder will be
de-listed within several business days following the closing.
As a result of the transaction, Thunder will be restructured into a
private entity under the name Sword Energy Inc. ("Sword"). Aston Hill will
provide management services for the entity through an external management
agreement. Under the terms of the management agreement, Aston Hill will
receive an acquisition fee for having completed the transaction and quarterly
management fees to manage the assets on a go forward basis. In addition to
management fees, Aston Hill may be eligible to receive certain performance
fees based upon exceeding minimum rates of return. Aston Hill is also
participating in the transaction by purchasing 2.24% of Sword for a total
consideration of $6.7 million.
Aston Hill Financial Inc. is an investment manager with expertise in oil
and gas property management, high-yield structured products, oil and gas
portfolio management and private equity.
The TSX Venture Exchange has neither approved nor disapproved the
information contained herein.
For further information:
For further information: Eric Tremblay, Chief Executive Officer, Aston
Hill Financial Inc., (403) 770-4817; Larry Titley, Vice President and CFO,
Aston Hill Financial Inc., (403) 770-4808