MGM Energy Corp. Announces Receipt of Shareholder Approval for Arrangement Pursuant to which Paramount Resources Ltd. will

MGM Energy Corp. Announces Receipt of Shareholder Approval for Arrangement 
Pursuant to which Paramount Resources Ltd. will Acquire MGM Energy Corp. 
NEWS RELEASE TRANSMITTED BY Marketwired 
FOR: MGM Energy Corp. 
TSX SYMBOL:  MGX 
JUNE 10, 2014 
MGM Energy Corp. Announces Receipt of Shareholder Approval for Arrangement
Pursuant to which Paramount Resources Ltd. will Acquire MGM Energy Corp. 
CALGARY, ALBERTA--(Marketwired - June 10, 2014) - MGM Energy Corp. ("MGM
Energy" or the "Company") (TSX:MGX) announced today that,
further to its April 14, 2014 press release, it has received the requisite
shareholder approvals for the previously announced arrangement (the
"Arrangement") pursuant to which Paramount Resources Ltd.
("Paramount") will acquire all of the MGM Energy shares not already
owned by it. The Arrangement was approved at a special meeting of shareholders
of MGM Energy held today by approximately 99% of the votes cast by shareholders
of MGM Energy present in person or by proxy at the meeting and approximately
97% of the votes cast by shareholders of MGM Energy present in person or by
proxy at the meeting after excluding those votes cast by shareholders that may
not be included in determining if minority approval for a business combination
is obtained pursuant to Multilateral Instrument 61-101 - Protection of Minority
Security Holders in Special Transactions. 
The Arrangement is subject to court approval, which will be sought on June 11,
2014. Assuming court approval is received, the Arrangement is expected to be
completed on June 11, 2014 and Paramount will acquire the common shares of MGM
Energy not owned by it in exchange for one Class A Common Share of Paramount
for every 300 common shares of MGM Energy.  
MGM Energy is a Canadian oil and natural gas exploration and development
company active in Northern Canada. MGM Energy's common shares are listed
on the Toronto Stock Exchange under the symbol "MGX".  
This document contains "forward-looking statements" including
anticipated timing and approvals in relation to the Arrangement. Readers are
cautioned not to place undue reliance on forward-looking statements. Actual
results and developments may differ materially from those contemplated by these
statements depending on, among other things, the risks associated with the
completion of the transactions contemplated by the Arrangement Agreement and
the satisfaction of conditions to the Arrangement. The forward-looking
statements contained herein are made at the date of this document and the
Company does not undertake any obligation to update publicly or revise any of
the forward-looking statements contained in this document, whether as a result
of new information, future event or otherwise, except as required by applicable
securities laws.  
-30-
FOR FURTHER INFORMATION PLEASE CONTACT: 
MGM Energy Corp.
Henry Sykes, President
(403) 781-7800
(403) 781-7801
or
MGM Energy Corp.
Rick Miller, Chief Financial Officer
(403) 781-7800
(403) 781-7801 
INDUSTRY:  Energy and Utilities - Oil and Gas  
SUBJECT:  STK 
-0-
-0- Jun/10/2014 15:50 GMT
 
 
Press spacebar to pause and continue. Press esc to stop.