Delon Resources Announces Shareholder Approval of Proposed Arrangement
05 April 2013 - 10:22AM
Access Wire
VANCOUVER, BRITISH COLUMBIA, April 4, 2013 - Delon Resources
Corp. (CNSX: DLN) ("Delon" or the "Company") is pleased to announce
the results of its Special Meeting of Shareholders (the "Meeting")
held on April 2, 2013 in Vancouver, B.C. At the Meeting,
shareholders approved all resolutions put before them, including,
the approval by 100% of the Delon shares voted, of the previously
announced proposed transaction with Gener8 Digital Media Corp.
("Gener8"), whereby Delon will acquire all of the issued and
outstanding securities of Gener8 by way of a statutory plan of
arrangement (the "Arrangement") pursuant to the British Columbia
Business Corporations Act. The Arrangement was also approved by
over 96% of the votes cast by securityholders of Gener8 at its
Special Meeting of Securityholders also held on April 2, 2013 in
Vancouver, B.C.
In addition, 100% of the shares voted at the Meeting were voted
in favour of the proposed share consolidation of the Company's
issued and outstanding common shares on the basis of one (1)
post-consolidation common share for every two (2) pre-consolidation
common shares (the "Consolidation").
The completion of the Arrangement remains subject to, among
other things, completion of the Consolidation, the final approval
of the Supreme Court of British Columbia (the "Court") and final
acceptance by the Canadian National Stock Exchange (the "CNSX"). At
9:45 a.m. on April 5, 2013, Gener8 plans to apply to the Court at
800 Smithe Street, Vancouver, British Columbia, to obtain an Order
of the Court approving the Arrangement. Subject to complying with
applicable procedures, any registered shareholders of Gener8 and
other interested parties who wish to participate or to be
represented or to present evidence or arguments at the hearing, may
do so.
Assuming court approval is obtained and all other closing
conditions are satisfied or waived, it is anticipated that the
Arrangement will be completed on or about April 16, 2013.
Further details regarding the Arrangement are set out in the
press release dated January 3, 2013, and the Notice of Meeting and
Joint Management Circular dated March 1, 2013, copies of which are
available under the Company's profile on SEDAR at
www.sedar.com.
ON BEHALF OF THE BOARD
"Herrick Lau"
Herrick Lau
Chief Executive Officer and Director
FOR MORE INFORMATION, PLEASE CONTACT:
Herrick Lau
herrick.lau@barongroupintl.com
604-688-9588
The CNSX does not accept responsibility for the adequacy or
accuracy of this release.
Forward Looking Statements
This press release contains forward-looking statements
concerning the acquisition of Gener8. These forward-looking
statements are based on assumptions and judgments of management
regarding the acquisition that may prove to be inaccurate due to
factors beyond Delon's control, including the satisfaction of
conditions to the closing of the acquisition. Although Delon has
attempted to identify important factors that could cause actual
results to differ materially from those contained in the
forward-looking statements, there may be other factors that cause
results not to be as anticipated or intended. There is no assurance
that such information will prove to be accurate, as future events
could differ materially from those anticipated in such information
and accordingly, there is no assurance that the acquisition of
Gener8 will be completed as anticipated. Except as required by law,
Delon undertakes no obligation to update these forward-looking
statements in the event that management's beliefs or opinions, or
other factors, should change. Readers should not place undue
reliance on forward-looking statements.
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