Midway Closes Plan Of Arrangement

摘要

Midway Energy Ltd., formerly Trafalgar Energy Ltd., has closed its previously announced plan of arrangement with EET Management Corp. and Energy Investment Limited Partnership. On July 30, at a special meeting of holders of common shares and non-voting shares of Midway, securityholders voted overwhelmingly in favour of the plan of arrangement pursuant to which, among other thing, Midway acquired all of the common shares of EET and the partnership units of the partnership. In accordance with the terms of the arrangement, former holder of common shares and non-voting shares received one class A common share of Midway for each Midway security held and one series A arrangement warrant of Midway for every three Midway securities held, with each whole series A arrangement warrant entitling the holder to acquire one New Midway share at a price of 70 cents per share until 4:30 p.m. (Calgary time) on Aug. 31.