Silverstone Shareholders Approve Arrangement With Silver Wheaton
2009年5月20日 - 7:00AM
Marketwired
Silverstone Resources Corp. ("Silverstone") (TSX VENTURE: SST) is
pleased to announce that Silverstone's shareholders have approved
the previously announced acquisition of Silverstone by Silver
Wheaton Corp. ("Silver Wheaton") by way of plan of arrangement
under the Business Corporations Act (British Columbia) (the
"Arrangement"). At the special meeting of Silverstone shareholders
held today, the Arrangement was approved by 74.67% of the votes
cast by the Silverstone shareholders.
Pursuant to the Arrangement, Silver Wheaton will acquire all of
the issued and outstanding common shares of Silverstone at an
exchange ratio of 0.185 of a Silver Wheaton common share for each
Silverstone common share. The closing of the Arrangement remains
subject to final court approval, which Silverstone intends to seek
from the British Columbia Supreme Court on May 20, 2009. Subject to
court approval being obtained and the other conditions to closing
being satisfied or waived, the Arrangement is expected to be
effective on May 21, 2009.
Silverstone has received a notice from one Silverstone
shareholder purporting to exercise dissent rights in respect of the
Arrangement, in respect of 8,705,500 Silverstone common shares,
representing approximately 7% of the issued and outstanding common
shares of Silverstone. Completion of the Arrangement is subject to
a condition in favour of Silver Wheaton that holders of no more
than 5% of the Silverstone common shares exercise dissent rights.
Silver Wheaton has indicated its intention to waive this condition
and complete the Arrangement.
Further details regarding the terms of the Arrangement are set
out in Silverstone's management information circular dated April
16, 2009, which is available at www.sedar.com.
CAUTIONARY NOTE REGARDING FORWARD LOOKING-STATEMENTS
This news release contains certain "forward-looking information"
under applicable Canadian and United States securities laws
concerning the proposed acquisition of Silverstone by Silver
Wheaton. Forward-looking statements are based on the opinions and
estimates of management at the date the statements are made, and
are based on a number of assumptions and subject to a variety of
risks and uncertainties and other factors that could cause actual
events or results to differ materially from those projected in the
forward-looking statements. Assumptions upon which forward-looking
statements related to the proposed acquisition by Silver Wheaton of
Silverstone include that the British Columbia Supreme Court will
approve the plan of arrangement, that all other required third
party regulatory and governmental approvals to the plan of
arrangement will be obtained and all other conditions to completion
of the plan of arrangement involving Silver Wheaton and Silverstone
will be satisfied or waived. Many of these assumptions are based on
factors and events that are not within the control of Silverstone
and there is no assurance they will prove to be correct.
Silverstone is under no obligation to update forward-looking
statements if circumstances or management's estimates or opinions
should change except as required by applicable securities laws. The
reader is cautioned not to place undue reliance of forward-looking
statements.
Contacts: Silverstone Resources Corp. Mark Patchett Investor
Relations 604.637.8151 604.688.2180 (FAX)
mpatchett@silverstonecorp.com www.silverstonecorp.com
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