Business
Return Energy Shareholders Approve Creation of Control Person
Return Energy Shareholders Approve Creation of Control Person Canada NewsWire CA...
About this update from Spartan Delta Corp
[{"type":"text","content":"\n\n\n\nReturn Energy Shareholders Approve Creation of Control Person\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, Dec. 27, 2017\n\n\n\n/NOT FOR DISSEMINATION IN THE UNITED STATES.  FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAW./\n\n\n\nCALGARY, Dec. 27, 2017 /CNW/ - Return Energy Inc. (\"Return\" or the \"Company\") (TSX-V: \"RTN\") is pleased to announce the results of voting at its special meeting of shareholders (\"Special Meeting\") held today, December 27, 2017. \n\nShareholders voted in favour of an ordinary resolution (the \"Control Person Resolution\") to approve the creation of Vertex Managed Value Portfolio (\"VMVP\"), a fund managed by Vertex One Asset Management Inc. (\"Vertex\"), as a new \"control person\" of the Company, as such term is defined in the policies of the TSX Venture Exchange. The Control Person Resolution received approval from 91.05% of disinterested shareholders and approval of 91.05% of minority shareholders. It is anticipated that VMVP will become a control person upon closing of the previously-announced private placement offering of units of the Company, which will be subject to final approval of the TSX Venture Exchange, due diligence and final documentation. Further updates will be provided in due course. \n\nIn addition, shareholders voted in favour of an ordinary resolution (the \"Warrant Exercise Resolution\") authorizing Vertex Value Fund (\"VVF\"), a fund managed by Vertex, to exercise warrants to purchase common shares in the capital of the Company that may result in VVF becoming a \"control person\" of the Company, as such term is defined in the policies of the TSX Venture Exchange.\n\nNeither 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.\n\nReader AdvisoriesForward-Looking Statements.  This news release contains forward-looking statements and information. More particularly, this docu...