EDMONTON,
March 6, 2013 /CNW/ - Virtual
Universe Corporation (the "Corporation") (TSX-V:VU)
announced today that subsequent to its news releases dated
February 1, 2013 and February 4, 2013, it has obtained a final order
("Final Order") of the Court of Queen's Bench of
Alberta on March 6, 2013 in respect of its previously
announced going-private transaction by plan of arrangement
("Arrangement").
Receipt of the Final Order follows the
Corporation's special meeting held on the same date, wherein the
special resolution approving the Arrangement was approved by not
less than two-thirds of the votes cast by shareholders of the
Corporation present in person or represented by proxy at the
meeting. The special resolution also received "majority of
the minority" approval.
The closing of the Arrangement remains subject
to the satisfaction or waiver of certain conditions of the
Arrangement and is expected to occur on or about March 8, 2013.
Further details regarding the Arrangement are
set out in the Corporation's notice of special meeting and
information circular dated February 4,
2013, which is available on the Corporation's SEDAR profile
at www.sedar.com.
Advisories:
Certain information in this press release is
"forward-looking information" within the meaning of applicable
Canadian Securities legislation and is prospective in nature,
including information regarding the timing of the special meeting,
the mailing of the Meeting Materials and the completion of the
going-private transaction. Forward-looking information is not based
on historical facts, but rather on current expectations and
projections about future events, and is therefore subject to risks
and uncertainties which could cause actual results to differ
materially from the future results expressed or implied by the
forward-looking information. This information generally can be
identified by the use of forward-looking words such as "may",
"should", "will", "could", "intend", "estimate", "plan",
"anticipate", "expect", "believe" or "continue", or the negative
thereof or similar variations. The Corporation can give no
assurance that such forward-looking information will prove to have
been correct.
The reader is cautioned not to place undue
reliance on this forward-looking information, which speaks only as
of the date of this press release.
The Corporation disclaims any intention or
obligation to update or revise any forward-looking information
whether as a result of new information, further events or
otherwise, except as required by applicable law.
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 news release.
SOURCE Virtual Universe Corporation