CALGARY, ALBERTA–(Marketwired – April 22, 2015) –
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
High North Resources Ltd. (TSX VENTURE:HN) (the “Company” or “High North“) announces that it has postponed the extraordinary meeting (the “Meeting“) of the holders (“Debentureholders“) of its 12.00% convertible unsecured subordinated debentures (“Debentures“) due April 4, 2015.
The Meeting will now be held on June 4, 2015, at 10:00 a.m. (Mountain Daylight Time), at First Canadian Centre, Conference Centre, 350 – 7th Avenue S.W., Calgary, Alberta, T2P 3N9. The record date for determining the Debentureholders entitled to receive notice of and vote at the Meeting is April 6, 2015.
The Meeting has been postponed to allow additional time for High North to prepare the meeting materials to be mailed to Debentureholders prior to the Meeting.
At the Meeting, the Debentureholders will be asked to vote on a resolution (the “Resolution“) to approve a plan of arrangement (the “Plan of Arrangement“), which provides for, among other things, certain amendments to the Debentures (the “Debenture Amendments“), as previously announced in High North’s press release of March 30, 2015.
The requisite approval of the Resolution is an affirmative vote of the holders of not less than 75% of the principal amount of Debentures outstanding, present in person or by proxy at the Meeting. Quorum at the Meeting shall consist of Debentureholders present in person or by proxy, representing not less than a majority in number and representing not less than 25% of the principal amount of the Debentures outstanding as of the date of the Meeting.
Additional information about the Plan of Arrangement, the Debenture Amendments and the Meeting will be provided in the management information circular expected to be mailed to Debentureholders on or about May 7, 2015.
The completion of the Plan of Arrangement is subject to certain conditions, including the approval of the Supreme Court of British Columbia and the receipt of the approval of the TSX Venture Exchange.
High North is a Calgary-based company that explores, develops and produces oil and natural gas in Western Canada. High North trades on the TSX Venture Exchange under the symbol HN.
Additional information about the Company is available under High North’s profile on SEDAR at www.sedar.com.
Forward-looking Statements and Information
This news release contains certain “forward-looking statements” or “forward-looking information” (collectively referred to herein as “forward-looking statements”) within the meaning of applicable securities legislation. Such forward-looking statements include, without limitation, forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or are events or conditions that “will”, “would”, “may”, “could” or “should” occur or be achieved. This news release contains forward-looking statements, pertaining to, among other things, the following: the Meeting, including anticipated dates; approval of the Resolution; receipt of approval from the Supreme Court of British Columbia; receipt of regulatory approvals, including from the TSX Venture Exchange; and certain other risks detailed from time to time in High North’s public disclosure documents, copies of which are available on High North’s SEDAR profile at www.sedar.com.
Although High North believes that the material factors, expectations and assumptions expressed in such forward-looking statements are reasonable based on information available to it on the date such statements were made, no assurances can be given as to future results, levels of activity and achievements and such statements are not guarantees of future performance. High North’s actual results may differ materially from those expressed or implied in forward-looking statements and readers should not place undue importance or reliance on the forward-looking statements. Statements including forward-looking statements are made as of the date they are given and except as required by applicable securities laws, High North disclaims any intention or obligation to publically update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
High North Resources Ltd.
President, Chief Executive Officer, and Director