ABACAN AND PARTNERS FINALIZE AMALGAMATION RATIOS ABACAN AND PARTNERS FINALIZE AMALGAMATION RATIOS.CALGARY, ALBERTA--(BUSINESS WIRE)--DECEMBER 19, 1994--ABACAN RESOURCE CORPORATION(Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). : ABC ABC in full American Broadcasting Co. Major U.S. television network. It began when the expanding national radio network NBC split into the separate Red and Blue networks in 1928. Alberta Stock Exchange: AGB AGB Game Boy Advance AGB Allgemeine Geschäftsbedingungen (German: General terms and conditions / Standard business conditions) AGB Ice Breaker (USCG) AGB Asymptotic Giant Branch VSE See DOS/VSE. VSE - Virtual Storage Extended : CIJ CIJ Continuous Ink Jet CIJ Center for Independent Journalism CIJ Centres d'Information Jeunesse (French) CIJ Close in Jamming CIJ Citizens for Impartial Justice Alberta Stock Exchange: CZV CZV Carl Zeiss Vision Alberta Stock Exchange: PCU PCU - PCI Configuration Utility Alberta Stock Exchange: ABC Alberta Stock Exchange: AGB VSE: CIJ Alberta Stock Exchange: CZV Alberta Stock Exchange: PCU ) Abacan Resource Corporation, Canadian Angus Resources Ltd., Canadian Industrial Minerals Corp., Canstar Ventures Corp. and Profile Capital Corporation (the "Corporations") announce that the exchange ratios for the proposed amalgamation of the foregoing Corporations have now been finalized. The initial ratios have been reviewed by special committees of the Board of Directors of each of the Corporations, and an independent investment advisory firm has reviewed the calculations and have determined that they are fair to all shareholders. Under the proposed amalgamation, shareholders of the Amalgamating Corporations will receive shares in the amalgamated a·mal·ga·mate v. a·mal·ga·mat·ed, a·mal·ga·mat·ing, a·mal·ga·mates v.tr. 1. To combine into a unified or integrated whole; unite. See Synonyms at mix. 2. Corporation ("Amalco") in accordance with the following ratios: Abacan Resource Corporation 1.00 share in Amalco for each share in Abacan Canadian Industrial Minerals Corp. 0.51 share in Amalco for each share in Canadian Industrial Minerals Canstar Ventures Corp. 0.45 share in Amalco for each share in Canstar Canadian Angus Resources Ltd. 0.30 share in Amalco for each share in Canadian Angus Profile Capital Corp. 0.23 share in Amalco for each share in Profile The exchange ratio for Profile reflects only those shares which are to be issued directly to Profile shareholders on the amalgamation. In addition, pursuant to a reorganization of Profile, a new corporation to be owned by the shareholders of Profile immediately prior to the amalgamation will acquire Profile's Non-Nigerian Assets, and will receive an additional approximately 700,000 shares of Amalco. The participation of each Corporation in the amalgamation is conditional upon shareholders' approval and other conditions. The meetings of the shareholders of each of the Corporations to consider the proposed amalgamation are scheduled for January 20, 1995. CONTACT: Wade G. Cherwayko or Ms. Lon Boshouwers
ABACAN RESOURCE CORPORATION
403/262-1220
or
Frank Elliott
CANADIAN ANGUS RESOURCES LTD.
403/233-9268
or
Darold H. Parken
CANSTAR VENTURES CORP.
403/262-3238
or
Vince Hamilton
CANADIAN INDUSTRIAL MINERALS CORP.
403/233-7113
or
Bob McDonald
PROFILE CAPITAL CORPORATION
403/262-8411
THE ALBERTA STOCK EXCHANGE NEITHER APPROVES NOR DISAPPROVES OF THE INFORMATION CONTAINED HEREIN. REPEATS: New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of 212-575-8822 or 800-221-2462; Boston 617-330-5311 or 80 |
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