Western Potash Corp. Completes Corporate Reorganization
31.03.2017 | Marketwire
VANCOUVER, Mar 31, 2017 - Western Potash Corp. (TSX:WPX)(FRANKFURT:AHE) ("Western Potash", the "Company") is pleased to announce the successful completion of its previously announced corporate reorganization by way of a court approved plan of arrangement under the Business Corporations Act (British Columbia) (the "Arrangement") with Western Resources Corp. ("Western Resources"), pursuant to which Western Resources has acquired all of the issued and outstanding common shares of Western Potash and Western Potash has become a wholly-owned subsidiary of Western Resources.Under the terms of the Arrangement, former Western Potash shareholders received Western Resources shares on the basis of 0.2 of a Western Resources common share for each one (1) Western Potash common share.
"We are very pleased to have concluded the reorganization which will allow us to achieve an optimal corporate structure and facilitate our ability to consider and implement alternative value enhancing opportunities," commented Geoffrey Chang, Chairman of Western Potash.
With the Arrangement now complete, Western Resources expects to become the TSX listed successor company to Western Potash. Western Potash shares are expected to be delisted from the TSX on April 5, 2017 and Western Resources shares are expected to commence trading simultaneously.
Further details regarding the Arrangement are set out in the management information circular of Western Potash dated February 7, 2017, which is available on SEDAR under the Company's issuer profile at www.sedar.com.
For more information on Western Potash Corp., please visit the Company's website at: www.westernpotash.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Geoffrey Chang
Chairman
Forward-Looking Information: Certain statements contained in this news release constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by words such as "anticipate", "continue", "estimate", "expect", "expected", "intend", "may", "will", "project", "plan", "should", "believe" and similar expressions (including negative variations), or that events or conditions "will", "would", "may", "could" or "should" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information that is set out herein, except in accordance with applicable securities laws.
Contact
Jerry Zhang
Corporate Secretary
604-689-9378