CALGARY, Alberta, Nov. 06, 2018 (GLOBE NEWSWIRE) — Velvet Energy Ltd. (“Velvet”) and Iron Bridge Resources Inc. (TSX: IBR) (“Iron Bridge”) announce that at the special meeting of shareholders (the “Meeting”) of Iron Bridge held earlier today, holders (“Iron Bridge Shareholders”) of common shares of Iron Bridge (“Iron Bridge Shares”) approved the amalgamation (the “Amalgamation”) of Iron Bridge and Velvet Acquisition Company Ltd., a wholly owned subsidiary of Velvet.
A total of 146,842,601 Iron Bridge Shares (approximately 89.58% of the issued and outstanding Iron Bridge Shares) were represented in person or by proxy at the Meeting. The Amalgamation was approved by approximately 99.88% of the votes cast by Iron Bridge Shareholders, either in person or by proxy at the Meeting.
Iron Bridge expects that the Amalgamation will be completed in the morning on November 7, 2018.