SilverBirch Energy Corporation announces closing of arrangement transaction
April 04 2012 - 1:00PM
PR Newswire (Canada)
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN
THE UNITED STATES./ TSX V Trading Symbol: SBE CALGARY, April 4,
2012 /CNW/ - SilverBirch Energy Corporation ("SilverBirch") is
pleased to announce the successful completion of the previously
announced plan of arrangement pursuant to which 8071667 Canada
Inc., a wholly owned subsidiary of Teck Resources Limited, acquired
all of SilverBirch's outstanding common shares (the "SilverBirch
Shares"). The former shareholders of SilverBirch will ultimately
receive, for each SilverBirch Share held, cash consideration of
$8.50 per share and one common share of SilverWillow Energy
Corporation. With the completion of the plan of arrangement, the
SilverBirch Shares are expected to cease to be listed for trading
on the TSX Venture Exchange on or about the close of business on
April 4, 2012. 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. For shareholders who
held their SilverBirch Shares through a broker, the payment of the
arrangement consideration will be processed through their broker.
For shareholders who held their SilverBirch Shares in registered
form, the payment of the arrangement consideration will be
processed after they deposit their share certificates, along with a
duly completed Letter of Transmittal, with Equity Financial Trust
Company, the depositary for the transaction, in accordance with the
instructions in the Letter of Transmittal. Any questions regarding
payment of the arrangement consideration, including any request for
another form of Letter of Transmittal, should be directed to your
broker, if applicable, or the depositary via telephone at
1 (866) 393-4891 (toll free in North America) or (416)
361-0152 or via e-mail at investor@equityfinancialtrust.com.
Details of the plan of arrangement were contained in the management
information circular of SilverBirch dated February 28, 2012, which
can be found at www.sedar.com. 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. SilverBirch Energy
Corporation CONTACT: www.silverbirchenergy.com
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