CALGARY, June 3, 2014 /CNW/ - Longview Oil Corp. ("Longview") is pleased to announce that on June 3, 2014 it held its annual and special meeting of shareholders (the "Meeting"), whereby Longview shareholders approved the previously announced plan of arrangement (the "Arrangement") involving Longview, Surge Energy Inc. and the shareholders of Longview. A total of 30,084,724 common shares (approximately 63.95% of the outstanding common shares) were represented at the Meeting in person or by proxy.
The Arrangement was approved by shareholders holding greater than 99.9% of the common shares of Longview who voted on the Arrangement in person or by proxy at the Meeting. The final approval of the Court of Queen's Bench of Alberta of the Arrangement is expected to be received, and the closing of the Arrangement is expected to occur, on June 5, 2014.
In addition, at the Meeting, Longview shareholders approved the election of three nominees as directors of Longview, with common shares represented at the Meeting voting by way of ballot in favour of the individual nominees as follows:
Doug Baker 99.3%
Daryl Gilbert 99.2%
Steven Sharpe 96.7%
If the Arrangement is completed as planned, such individuals intend to resign as directors of Longview at closing of the Arrangement. If the Arrangement is not completed, such individuals will hold office until the next annual general meeting of Longview shareholders or until their successors are duly elected or appointed.
Certain statements in this press release regarding Longview may constitute forward-looking statements under applicable securities laws and necessarily involve known and unknown risks and uncertainties, most of which are beyond Longview's control. Specifically, and without limitation, all statements included in this press release that address events or developments that Longview expects or anticipates will or may occur in the future, including timing of the final order of the Court of Queen's Bench of Alberta approving the Arrangement, the effective date of the Arrangement, and the intention of the directors of Longview to resign as directors at closing of the Arrangement, may constitute forward-looking statements under applicable securities laws. Although Longview believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements involve known and unknown risks and uncertainties, most of which are beyond Longview's control. These risks may cause actual results, performance, levels of activity and achievements to differ materially from those expressed in, or implied by, such forward-looking statements. Such risks and uncertainties include, but are not limited to: obtaining required approvals of regulatory authorities and consummation of the Arrangement being dependent on the satisfaction of customary closing conditions and the approval of the Court of Queen's Bench of Alberta. Many of these risk factors are discussed in further detail in Longview's Information Circular for the Meeting, which is filed under Longview's profile on SEDAR at www.sedar.com. Although the forward-looking statements contained in this press release are based upon assumptions which management believes to be reasonable, Longview cannot assure shareholders that actual results will be consistent with these forward-looking statements. With respect to forward-looking statements contained in this press release, Longview has made assumptions regarding receipt of regulatory approvals and approval of the Court of Queen's Bench of Alberta, and other matters. Accordingly, Longview does not give any assurance or make any representations or warranty that the expectations conveyed by the forward-looking statements will prove to be correct and actual results may differ materially from those anticipated in the forward-looking statements. Longview does not undertake any obligation to publicly update or revise any forward-looking statements, other than required by applicable securities laws.
SOURCE: Longview Oil Corp.
For further information: Investor Relations, Toll free: 1-855-813-0313, LONGVIEW OIL CORP., 700, 400 -3rd Avenue SW, Calgary, Alberta, T2P 4H2, Phone: (403) 718-8000, Fax: (403) 718-8300, Web Site: www.longviewoil.com, E-mail: [email protected]