Avion acquires Dynamite shares

2009-05-07 16:26 ET - Miscellaneous

Also Miscellaneous (C-DNR) Dynamite Resources Ltd

The TSX Venture Exchange has accepted for filing documentation pertaining to a court-approved plan of arrangement between Avion Resources Corp. and Dynamite Resources Ltd., a TSX-V-listed company, whereby Avion has acquired all of the issued and outstanding common shares of Dynamite at an exchange ratio of 0.75 Avion common share for each Dynamite common share. The arrangement was approved by the disinterested shareholders of Dynamite on April 28, 2009, and received final court approval from the Ontario Court of Justice (commercial list) on May 4, 2009.

Pursuant to the arrangement, Avion will issue a total of 85,151,250 common shares of Avion to the former shareholders of Dynamite. Each Dynamite shareholder will receive Avion shares in exchange for the Dynamite shares held on the basis of 0.75 Avion share for each Dynamite share held effective at the opening Friday, May 8, 2009.

Postarrangement

Capitalization: unlimited shares with no par value of which 198,416,259 shares are issued and outstanding

Escrow: nil

Transfer agent: Equity Transfer & Trust Company

Trading symbol: AVR (unchanged)

Cusip No.: 054309109 (unchanged)

For further information, please refer to the company's news releases dated March 19, 2009, May 1, 2009, and May 6, 2009, and a delist bulletin for Dynamite Resources dated May 7, 2009.