CALGARY, Sept. 8, 2017 /CNW/ - Paramount Resources Ltd.
(TSX: POU) ("Paramount") is pleased to announce that it has
received shareholder approval for its previously announced merger
with Trilogy Energy Corp. ("Trilogy") at its special meeting of
shareholders held today. The percentage of the total votes
cast under the minority approval requirements that were voted in
favour of the merger exceeded 98%.
Shareholders also elected an additional three directors —
Wilfred Gobert, Robert MacDonald and Keith MacLeod — to the board of directors of
Paramount, conditional on the merger being completed. The
percentages of votes for and withheld from voting were 99.9% and
0.1%, respectively, for each of the nominees.
The shareholders of Trilogy Energy Corp. also approved the
merger at a special meeting of Trilogy shareholders held today. The
merger remains subject to court approval, which Trilogy is
scheduled to seek on Monday, September 11,
2017. If court approval is obtained, closing of the merger
is anticipated to occur on September 12,
2017. Under the merger, Trilogy shareholders will receive
one Paramount share for every 3.75 Trilogy shares held.
ABOUT PARAMOUNT
Paramount is an independent, publicly traded, Canadian energy
company that explores and develops unconventional and conventional
petroleum and natural gas prospects, including long-term
unconventional exploration and pre-development projects, and holds
a portfolio of investments in other entities. Paramount's principal
properties are primarily located in Alberta and British
Columbia. Paramount's Class A common shares are listed on
the Toronto Stock Exchange under the symbol "POU".
SOURCE Paramount Resources Ltd.