TORONTO, June 13, 2013 /CNW/ - Longford Energy Inc. (NEX - LFD.H)
("Longford") and Earth Video Camera Inc. ("UrtheCast") are pleased to
announce that, at the annual and special meeting of Longford's
shareholders held earlier today (the "Meeting"), Longford's
shareholders overwhelmingly approved all resolutions relating to the
previously announced plan of arrangement (the "Arrangement") involving
Longford and UrtheCast.
The resolutions that Longford's shareholders approved related to (i) the
issuance of Longford common shares in exchange for all of the issued
and outstanding Class A common shares of UrtheCast, (ii) a
consolidation of Longford's common shares upon completion of the
Arrangement, (iii) changing Longford's name to "UrtheCast Corp." upon
completion of the Arrangement, (iv) adoption of a new equity
compensation incentive plan by Longford, (v) the issuance of common
shares to Goodwood Management Services Ltd. ("Goodwood") as
compensation for consulting services to be provided to Longford by
Goodwood and (vi) certain amendments to Longford's by-laws. All of the
existing directors of Longford were also re-elected pending completion
of the Arrangement.
A special meeting of UrtheCast shareholders to consider the Arrangement
is scheduled to occur on June 14, 2013 and, should the Arrangement be
approved by UrtheCast shareholders, an application to the Supreme Court
of British Columbia for a final order approving the Arrangement is
expected to be made on or about June 18, 2013. If UrtheCast shareholder
approval and court approval are obtained and the other conditions to
the completion of the Arrangement are satisfied or waived, Longford and
UrtheCast expect that the Arrangement will be completed on or about
June 19, 2013. Longford's common shares are expected to begin trading
on the TSX under the ticker symbol "UR" during the week of June 24,
This release contains certain "forward looking statements" and certain
"forward-looking information" as defined under applicable Canadian
securities laws. Forward-looking statements and information can
generally be identified by the use of forward-looking terminology such
as "may", "will", "expect", "intend", "estimate", "anticipate",
"believe", "continue", "plans" or similar terminology. Forward-looking
statements and information include, but are not limited to, statements
with respect to the completion of the Arrangement and related matters.
Forward-looking statements and information are subject to various known
and unknown risks and uncertainties, many of which are beyond the
ability of Longford and UrtheCast to control or predict, that may cause
Longford's or UrtheCast's actual results, performance or achievements
to be materially different from those expressed or implied thereby, and
are developed based on assumptions about such risks, uncertainties and
other factors set out here in, including but not limited to: the risk
that the Arrangement will not be approved by the court or the
shareholders of UrtheCast; risks and uncertainties related to the
Arrangement not being completed in the event that the conditions
precedent thereto are not satisfied and other related risks and
uncertainties. Longford and UrtheCast undertake no obligation to update
forward-looking information except as required by applicable law. Such
forward-looking information represents management's best judgment based
on information currently available. No forward-looking statement can be
guaranteed and actual future results may vary materially. Accordingly,
readers are advised not to place undue reliance on forward-looking
statements or information.
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.
SOURCE: Longford Energy Inc.
For further information:
Peter H. Puccetti
Chief Executive Officer
Longford Energy Inc.
President and Chief Executive Officer
Earth Video Camera Inc.
604-669-1788 (telephone) 604-669-1799 (facsimile)