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Forrester Metals Inc. Arrangement Update

21.04.2017  |  CNW
TORONTO, April 21, 2017 - Forrester Metals Inc. (the "Company" or "Forrester") (NEX: VEM.H) provides an update in respect of its proposed arrangement with Zinc One Resources Inc. ("Zinc One") pursuant to which Zinc One will acquire all of the issued and outstanding common shares of Forrester (the "Arrangement").

The Special Meeting of shareholders to approve the Arrangement under the Ontario Business Corporations Act is scheduled to be held at the offices of Forrester, 130 King Street West, Suite 3680, Toronto, Ontario on Monday, April 24, 2017 at 10:00 a.m. (Toronto time).

For the Arrangement to be approved, Forrester will require the approval by 66 2/3 percent of the votes cast by its shareholders who are present in person or by proxy at the Special Meeting as well as the approval of a simple majority of disinterested shareholders.  For purposes of applicable securities laws, all shares held by the directors and officers of Forrester, being 8,215,001 shares in aggregate, will be excluded from the minority vote.  The Board of Directors of Forrester has previously approved the Arrangement and has unanimously recommended that Shareholders approve the Arrangement.

Following the Special Meeting, Forrester will appear before the Ontario Superior Court to request that a final order of the Court approving the Arrangement be issued. It is expected that Forrester will bring its application to the Court on April 26. Shortly following receipt of TSX Venture and NEX approval for the transaction, in addition to Court approval, the transaction will close.

Forward-Looking Statements - Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Each of Zinc One and Forrester cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond their respective control. Such factors include, among other things: risks and uncertainties relating to each of Zinc One and Forrester's limited operating history, ability to complete the proposed Transaction (including obtaining all necessary shareholder and regulatory approvals), ability to close the Private Placement Financing and the need to comply with environmental and governmental regulations.  Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, neither Zinc One nor Forrester undertakes no obligation to publicly update or revise forward-looking information.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.


Forrester Metals Inc.
Bill Williams, CEO of Forrester
(416) 364 7739
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