VANCOUVER, British Columbia, July 12, 2022 (GLOBE NEWSWIRE) — Imperial Helium Corp. (TSXV: IHC) (“Imperial” or the “Company”), is pleased to announce that, at its special meeting (the “Meeting”) of holders (“Shareholders”) of common shares and preferred shares of Imperial (collectively, the “Imperial Shares”), Shareholders approved the plan of arrangement (the “Arrangement”) with Royal Helium Ltd. (“Royal”), pursuant to which, among other things, Royal will acquire all of the issued and outstanding Imperial Shares. Shareholders will receive 0.614 of a Royal common share (each whole share, a “Royal Share”) for each Imperial Share held (the “Consideration”).
The Arrangement required approval by not less than: (i) 66 2/3% of the votes cast by the Shareholders; and (ii) a simple majority of the votes cast by the Shareholders, excluding the votes attaching to any Imperial Shares held by interested parties required to be excluded pursuant to applicable securities laws, present in person or represented by proxy and entitled to vote at the Meeting. Imperial subsequently determined that there were no holders of Imperial Shares beneficially owned or over which control or direction is exercised by any persons whose votes were required to be excluded in accordance with Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions.
The required shareholder approval threshold was met, with the Arrangement…
