CALGARY, May 7 /CNW/ - Burmis Energy Inc. ("Burmis") (TSX: BME) is pleased to announce that the Information Circular and Proxy Statement (the "Information Circular") with respect to the previously announced business combination of Burmis and Baytex Energy Trust ("Baytex") and the annual and special meeting of Burmis has been mailed to shareholders of record on May 2, 2008. The business combination is to be effected by way of a Plan of Arrangement (the "Arrangement"). The Information Circular contains a detailed description of the Arrangement and is available on SEDAR (www.sedar.com). The annual and special meeting of the shareholders of Burmis to vote on the Arrangement, among other things, will be held on Tuesday, June 3, 2008 at 9:00 a.m. (Calgary time) (the "Meeting"). The Meeting will be held in the Viking Room, Calgary Petroleum Club, 319 - 5th Avenue S.W., Calgary, Alberta.
The Arrangement is expected to close on or about June 3, 2008. Completion of the Arrangement is subject to, among other conditions, the approval of the Court of Queen's Bench of Alberta, receipt of all necessary regulatory approvals and the approval by at least 66 2/3% of the votes cast by Burmis shareholders who vote at the Meeting as well as the approval by a majority of the votes cast by Burmis shareholders who vote at the Meeting, excluding those votes attaching to Burmis shares beneficially owned, or over which control or direction is exercised, by the directors and officers of Burmis who can be considered to be receiving a "collateral benefit", as defined in Multilateral Instrument 61-101, in connection with the Arrangement.
All Burmis shareholders are encouraged to vote in person or by proxy at the Meeting.
Advisory Regarding Forward-Looking Statements
This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "may", "will", "should", "believe", and similar expressions are intended to identify forward-looking information or statements. The forward-looking statements and information are based on certain key expectations and assumptions made by Burmis, including expectations and assumptions concerning the timing of receipt of regulatory and securityholder approvals. Although Burmis believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because Burmis can give no assurance that they will prove to be correct. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. This press release contains forward-looking statements and information concerning the anticipated completion of the proposed Arrangement and the anticipated timing for completion of the Arrangement. Burmis has provided these anticipated times in reliance on certain assumptions that they believe are reasonable at this time, including assumptions as to the timing of receipt of the necessary regulatory and court approvals and the time necessary to satisfy the conditions to the closing of the Arrangement. These dates may change for a number of reasons, including, but not limited to, inability to secure necessary regulatory or court approvals in the time assumed or the need for additional time to satisfy the conditions to the completion of the Arrangement. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this press release concerning these times. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on these and other factors may be accessed through the SEDAR website (www.sedar.com) or at Burmis' website (www.burmisenergy.ca). The forward-looking statements and information contained in this press release are made as of the date hereof and Burmis undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.