Receipt of the final order of the Court followed the special meeting of Shareholders held early this morning (the “Meeting“), where Shareholders voted overwhelmingly in favour of a special resolution (the “Arrangement Resolution“) approving the Arrangement. A total of 144,113,916 Prairie Storm Shares, representing approximately 97.76% of issued and outstanding Prairie Storm Shares, were voted at the Meeting. The Arrangement Resolution was approved by the requisite majorities of Shareholders, as follows:
Resolution |
# Votes For |
% Votes For |
# Votes Against |
% Votes Against |
Arrangement |
144,113,916 |
100% |
0 |
0% |
Arrangement |
103,242,251 |
100% |
0 |
0% |
(1) |
More than two-thirds (66⅔ per cent) of the votes cast by Shareholders, voting together as a single class, present in person or represented by proxy at the Meeting voted in favour of the Arrangement Resolution, as required by the interim order of the Court. |
|
(2) |
More than a simple majority of the votes cast on the Arrangement Resolution by Shareholders present in person or represented by proxy at the Meeting, after excluding the votes cast by those persons whose votes were required to be excluded pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions, voted in favour of the Arrangement Resolution, as required by the interim order of the Court. |
Additional information regarding the Arrangement is provided in the management information circular of Prairie Storm dated October 26, 2021, which is available on Prairie Storm’s SEDAR profile at www.sedar.com. Assuming the satisfaction of the remaining conditions to closing, the Arrangement is expected to close tomorrow, November 30, 2021.
Q3 2021 DISCLOSURE FILINGS
In addition, Prairie Storm is also pleased to announce the filing of Prairie Storm’s unaudited interim condensed consolidated financial statements (the “Q3 2021 Financial Statements“) and related management’s discussion and analysis (the “Q3 2021 MD&A“), each as at and for the three and nine months ended September 30, 2021. Copies of the Q3 2021 Financial Statements and Q3 2021 MD&A are available on Prairie Storm’s SEDAR profile at www.sedar.com.
DEFINITIONS AND ADVISORIES
Currency: All amounts referred to in this press release are stated in Canadian dollars unless otherwise specified.