SilverBirch Energy Corporation receives court approval for arrangement

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

CALGARY, April 2, 2012 /CNW/ - SilverBirch Energy Corporation ('SilverBirch') is pleased to announce that today it obtained a final order from the Court of Queen's Bench of Alberta in respect of its previously announced plan of arrangement (the 'Arrangement') involving SilverBirch, Teck Resources Limited ('Teck'), 8071667 Canada Inc. (the 'Purchaser') and SilverWillow Energy Corporation ('SilverWillow').

The Arrangement involves the acquisition by the Purchaser (a wholly owned subsidiary of Teck) of all of SilverBirch's outstanding shares, except for those currently held by Teck. The holders of common shares of SilverBirch ('SilverBirch Shares') will ultimately receive, for each SilverBirch Share held, cash consideration of $8.50 per share and one common share of SilverWillow.

SilverBirch and Teck intend to proceed with the completion of the Arrangement on or about April 4, 2012. Following completion of the Arrangement, it is anticipated that the SilverBirch Shares will be delisted from the TSX Venture Exchange and SilverBirch will apply to cease to be a reporting issuer under the securities laws of each of the provinces of Canada in which it is currently a reporting issuer. It is anticipated that the common shares of SilverWillow (the 'SilverWillow Shares') will commence trading on the TSX-V on or about April 5, 2012 subject to SilverWillow fulfilling all the applicable listing requirements.


Advisory Regarding Forward-Looking Information

This news release contains 'forward-looking information' within the meaning of applicable securities laws. The use of any of the words 'will', 'intend', 'anticipated' and other similar words or expressions are intended to identify forward-looking information. More particularly and without limitation, this news release contains forward-looking information concerning the completion of the Arrangement, the expected timing of the completion of the Arrangement, the delisting of the SilverBirch Shares, the application of SilverBirch to cease to be a reporting issuer and the date on which the SilverWillow Shares will commence trading on the TSX-V.

The forward-looking information in this news release is based on certain key expectations and assumptions made by SilverBirch, including assumptions as to the time necessary to satisfy the remaining conditions to the closing of the Arrangement and the time required for the delisting of the SilverWillow Shares and the commencement of trading of the SilverBirch Shares.  Although SilverBirch believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because SilverBirch can give no assurance that it will prove to be correct.

The forward-looking information in this news release is subject to known and unknown risks and uncertainties and other factors which may cause actual results to differ materially from those expressed or implied in the forward-looking information. Such risks, uncertainties and factors include, among others, the need for additional time to satisfy the remaining conditions to the completion of the Arrangement. Listing of the SilverWillow Shares is conditional upon SilverWillow fulfilling the requirements of the TSX-V and there can be no assurance that the TSX-V will list the SilverWillow Shares. As a result of the foregoing, readers should not place undue reliance on the forward-looking information contained in this news release.

Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on these and other factors that could affect the operations or financial results of SilverBirch are included in SilverBirch's Information Circular dated February 28, 2012 and in reports on file with applicable securities regulatory authorities and may be accessed through the SEDAR website www.sedar.com.

The forward-looking information contained in this news release is made as of the date hereof and SilverBirch undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.



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



CONTACT:

please contact Howard J. Lutley, President and Chief Executive Officer, at (403) 538-7030