Metanor Receives Court Approval for the Plan of Arrangement With Bonterra

VAL D'OR, Quebec, Sept. 21, 2018 (GLOBE NEWSWIRE) -- METANOR RESOURCES INC. ("Metanor”) (TSX-V:MTO) is pleased to announce that the Superior Court of Quebec (Commercial Division)  has granted a final order authorizing the previously announced plan of arrangement  (the “Arrangement”) between Metanor and Bonterra Resources Inc. (“Bonterra”) which was approved by the shareholders and optionholders of Metanor during the Special Meeting held on September 18, 2018.

Closing of the Arrangement is expected to take place on September 24, 2018, following which all outstanding common shares of Metanor will be exchanged for Bonterra common shares, on the basis of 1.6039 Bonterra common share (TSX-V: BTR) for each Metanor share outstanding.  The shareholders of Metanor, at the time of the delisting of the Metanor shares from the TSX Venture Exchange, expected to take place at closing of trading on September 25, 2018, will be eligible to receive the Bonterra common shares.    

As shareholders of Metanor may be required to take action in order to receive their Bonterra common shares, they should carefully review the terms of the Arrangement set out in Metanor’s management information circular dated August 15, 2018, which is available under Metanor’s profile at www.sedar.com. and  complete, if necessary, the letter of transmittal (also available at SEDAR) which must be forwarded to Computershare Investor Services Inc., before delivery of the Bonterra common shares can take place.

The Arrangement remains subject to final approval by the TSX Venture Exchange (“TSX-V”).

For further information regarding the contents of this news release please contact:

Pascal Hamelin, Président and COO
Téléphone: (819) 825-8678
Courriel: phamelin@metanor.ca

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

Cautionary Statement: Certain information contained in this press release constitutes “forward-looking information", within the meaning of Canadian legislation concerning the completion of the Arrangement. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", “forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur", "be achieved" or “has the potential to”. Forward looking statements contained in this press release may include statements regarding Metanor’s ability to complete the Arrangement, and the anticipated effective date of the Arrangement, which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: uncertainties as to the timing of the concurrent Bonterra plan of arrangement, the satisfaction of the conditions contained in the agreements underlying the Arrangement, market conditions and other risk factors listed from time to time in Metanor’s reports filed with Canadian securities regulators on SEDAR at www.sedar.com. The forward-looking statements included in this press release are made as of the date of this press release and Metanor disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.