Business
Seacliff announces receipt of shareholder approval
Seacliff announces receipt of shareholder approval
About this update from Valhalla Metals Inc.
[{"type":"text","content":"\n\n\n\n Jul. 9, 2010 (Canada NewsWire Group) -- /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n\nTSX: SDC and CUQ\n\n Seacliff Construction Corp. ("Seacliff") and The Churchill Corporation ("Churchill") are pleased to announce that the shareholders of Seacliff have overwhelmingly approved the arrangement under the Business Corporations Act (British Columbia) under which Churchill will acquire Seacliff. Approximately 85% of the total Seacliff shares outstanding were represented at the meeting held today to consider the arrangement, and approximately 99.9% of those shares were voted in favour of the arrangement.\nWith the Seacliff shareholders' approval, the remaining condition to complete the acquisition is the approval of the Supreme Court of British Columbia, which will be sought on the morning of July 13, 2010. The acquisition closing is scheduled for the afternoon of July 13, 2010.\n\nAbout Seacliff Construction Corp.\n\nSeacliff provides general contracting services, electrical contracting and earthmoving services to a wide array of clients in both the public and private sectors, with a majority of its business derived from institutional, commercial, civil and light industrial construction projects. Seacliff is headquartered in Vancouver, BC and operates 22 locations in British Columbia, Alberta, Saskatchewan and Manitoba, as well as two locations in Northwestern Ontario. Seacliff's business is conducted through three business units: Dominion Construction, a general contractor; Canem Systems, an electrical contractor and Broda Construction Group, a Saskatchewan-based earthmoving and heavy civil construction contractor.\n\nAbout The Churchill Corporation\n\nThe Churchill Corporation provides building construction, industrial insulation and electrical contracting services throughout Western Canada. Churchill common shares are listed on the Toronto Stock Exchange under the symbol "CUQ".\n\nFORWARD LOOKING STATEMENTS\n\nCertain statements in this Press Release may constitute "forward-looking statements". Forward-looking statements include, without limitation, statements regarding the timing of the closing of the acquisition. Many of these statements can be identified by looking for words such as "believes," "expects,&quo...