ABACAN RECEIVES FINAL COURT APPROVAL.CALGARY, ALBERTA--(BUSINESS WIRE)--FEBRUARY 8, 1995--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. ) Abacan Resource Corporation, ("Abacan" or the "Corporation"), announces that it has received final Court approval for the amalgamation amalgamation /amal·ga·ma·tion/ (ah-mal´gah-ma´shun) trituration (3). amalgamation ( of the Corporation, Canadian Canadian (kənā`dēən), river, 906 mi (1,458 km) long, rising in NE New Mexico. and flowing E across N Texas and central Oklahoma into the Arkansas River in E Oklahoma. Industrial Minerals Corp., Canstar Ventures Corp., Profile Capital Corporation and Canadian Angus Resources Ltd. As well, the Court approval for the reorganization of Profile Capital Corporation has been obtained. The Corporation is also pleased to announce that immediately following the amalgamation, Daryl J. (Doc) Seaman SEAMAN. A sailor; a mariner; one whose business is navigation. 2 Boulay Paty, Dr. Com. 232; Code de Commerce art. 262; Laws of Oleron, art. 7; Laws of Wishuy, art. 19. The term seamen, in it most enlarged sense, includes the captain a well as other persons of the crew; in a more confined will join the Board of the Corporation. Doc Seaman brings to the Corporation a wealth of international oil and gas experience. The amalgamation is planned to occur on the morning of Friday, February 10, 1995. The shares of the five amalgamating corporations will discontinue dis·con·tin·ue v. dis·con·tin·ued, dis·con·tin·u·ing, dis·con·tin·ues v.tr. 1. To stop doing or providing (something); end or abandon: trading at the close of business on Thursday, February 9, 1995. It is anticipated that trading in the shares of 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 will be delayed at the opening on Friday, February 10, 1995 with trading in the amalgamated Corporation to commence mid morning on that date. The amalgamated Corporation will also be known as Abacan Resource Corporation and will maintain the stock symbol "ABC". Letters of Transmittal will be forwarded to shareholders of all five corporations, including Abacan Resource Corporation, instructing the registered holders to return their share certificates to Montreal Trust Company of Canada to receive new certificates in the amalgamated Corporation. Shareholders who hold their shares through an intermediary Intermediary See: Financial intermediary intermediary See financial intermediary. , such as a brokerage house, should consult their broker following the amalgamation for confirmation that their shares have been exchanged for shares in the amalgamated Corporation. The exchange ratios on the amalgamation are as follows: Abacan Resource Corporation - 1.00 share of amalgamated corporation for each 1 share of Abacan Canadian Industrial Minerals Corp. - 0.51 shares of amalgamated corporation for each 1 share of Canadian Industrial Minerals Canstar Ventures Corp. - 0.45 shares of amalgamated corporation for each 1 share of Canstar Canadian Angus Resources Ltd. - 0.30 shares of amalgamated corporation for each 1 share of Canadian Angus Profile Capital Corporation - 0.23 shares of amalgamated corporation for each 1 share of Profile -0- NOTE: THE ALBERTA STOCK EXCHANGE NEITHER APPROVES NOR DISAPPROVES OF THE INFORMATION CONTAINED HEREIN. CONTACT: Wade G. Cherwayko or Ms. Lon Boshouwers, 403/262-1220; 403/269-3944 (FAX) |
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