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. 
CALGARY, ALBERTA -- (Marketwired) -- 06/10/14 --   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. 
Contacts:
MGM Energy Corp.
Henry Sykes, President
(403) 781-7800
(403) 781-7801 (FAX) 
MGM Energy Corp.
Rick Miller, Chief Financial Officer
(403) 781-7800
(403) 781-7801 (FAX)
 
 
Press spacebar to pause and continue. Press esc to stop.