Pebercan holders approve a plan of arrangement

    TSX: PBC

    MONTREAL, May 26 /CNW Telbec/ - PEBERCAN INC. ("Pebercan" or the
"Company") (TSX : PBC) announces that its security holders approved a plan of
arrangement in order to initiate the Company's liquidation at a special
meeting held today. The arrangement essentially provides for the liquidation
of Pebercan pursuant to which the Company will distribute to its common
shareholders its net cash stemming from the Company's prorata share of the
payment received from Cuban authorities on February 9, 2009, through its
subsidiary Peberco Limited.
    The arrangement was approve by 99.7% of the Company's security holders
present at the meeting or represented by proxy.
    The formal notice of Special Meeting and accompanying Management Proxy
Circular contain the details of the proposed arrangement and the items set at
the agenda of the Special Meeting. These documents are available at the
Company's Website and on SEDAR at
    %SEDAR: 00004118EF

For further information:

For further information: RENMARK Financial Communications Inc.: Henri
Perron,; Dan Symons,; (514) 939-3989, Fax: (514) 939-3717;; PEBERCAN Inc.: Christophe Ranger,, (514) 286-5200, Fax: (514) 286-5177

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