TORONTO, Nov. 26, 2013 /CNW/ - Marret Resource Corp. (TSX: MAR) (the "Company") today announced that in light of anticipated voting results, management of the Company withdrew from the agenda of the special meeting (the "Meeting") of holders of common shares of the Company held on November 25, 2013 the special resolution authorizing amendments to the articles of the Company to provide for (i) the creation of Class A Shares and a one time right of holders of common shares of the Company ("Common Shares") to convert their Common Shares into Class A Shares, and (ii) an annual liquidity right in respect of both Common Shares and Class A Shares. Accordingly, there was no vote on the special resolution at the Meeting.
About Marret Resource Corp.
The Company is focused on natural resource lending. The Company's business is primarily directed to investing in public and private debt securities of and making term loans (including bridge and mezzanine debt) to issuers in a broad range of natural resource sectors, including energy, base and precious metals and other commodities, and issuers involved in exploration and development, and may also include financing other resource related businesses and investing in public and private equity and quasi-equity securities. The Company seeks to generate income mainly from its lending activities, while taking advantage of additional upside through equity participation in the companies which it finances. Marret Asset Management Inc. is responsible for implementing Company's investment strategy and managing its investment portfolio.
About Marret Asset Management Inc.
Marret Asset Management Inc. is an employee owned credit fixed income manager based in Toronto. Marret's experienced team of investment professionals led by Barry Allan specialize exclusively in fixed income and, particularly, in high yield debt strategies.
This news release includes certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward-looking information is necessarily based upon a number of assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such risks include, but are not limited to, market conditions and the other risks identified in the Company's annual information form under the heading "Risk Factors". There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
SOURCE: Marret Resource Corp.
For further information:
For further information about Marret Resource Corp. and its ongoing business, please contact:
Barry Allan, Chief Executive Officer at 416.214.5800