METCO RESOURCES INC. ("MKO")
BULLETIN TYPE: Plan of Arrangement- Change in share type/classification or other attributes, Delist
BULLETIN DATE: April 17, 2008
TSX Venture Tier 2 Company
Plan of Arrangement
Pursuant to the special resolution passed by the shareholders of Metco Resources Inc. ("Metco") on April 11, 2008, Metco, Breakwater Resources Ltd. ("Breakwater") and its wholly-owned subsidiary 9192-3573 Quebec Inc. have completed a Plan of Arrangement under the Companies Act (Quebec).
The Effective Date of the Plan of Arrangement is April 15, 2008.
Under the terms of the Plan of Arrangement, all outstanding common shares of Metco will be exchanged for common shares of Breakwater on the basis of one Breakwater shares for each 18.3 Metco shares, representing 7,000,000 Breakwaters shares on a fully diluted basis. Approximately 5,900,000 Breakwater shares will be issued at the Effective Date in exchange of outstanding Metco shares and approximately 1,100,000 Breakwater shares will be reserved for issuance for the outstanding Metco options and warrants.
For further information regarding the plan of arrangement, please refer to the Company's Information Circular dated March 28, 2008, available on SEDAR.
It is understood that Letters of Transmittal were mailed to shareholders on or about March 6, 2008 requesting them to deposit their duly completed Letter of Transmittal together with their Metco share certificates to Computershare Investor Services Inc. at its principal offices in Toronto and Montreal, in order to receive certificates representing Breakwater common shares to which they are entitled.
The common shares of Breakwater Resources Ltd. are listed and posted for trading on Toronto Stock Exchange under the symbol "BWR".
Delist
Effective at the close of business on April 17, 2008, the common shares will be delisted from TSX Venture Exchange.
For more information regarding the Plan of Arrangement, please consult the Management Information Circular dated March 28, 2008, available on SEDAR.
RESSOURCES METCO INC. (" MKO ")
TYPE DE BULLETIN : Arrangement, Radiation de la cote
DATE DU BULLETIN : Le 17 avril 2008
Societe du groupe 2 de TSX Croissance
Arrangement
Suite a la resolution extraordinaire adoptee par les actionnaires de Ressources Metco Inc. (" Metco ") le 11 avril 2008, Metco, Breakwater Resources Ltee (" Breakwater ") et sa filiale 9192-3573 Quebec Inc. ont complete un Arrangement selon la Loi sur les compagnies du Quebec.
La date d'entree en vigueur de l'Arrangement est le 15 avril 2008.
Selon les termes de l'Arrangement, toutes les actions emises et en circulation de Metco seront echangees contre des actions ordinaires de Breakwater selon le ratio d'une action de Breakwater contre 18.3 actions de Metco, totalisant 7 000 000 d'actions de Breakwater pleinement dilue. Approximativement 5 900 000 actions de Breakwater seront emises a la date d'entree en vigueur afin d'etre echangees contre les actions de Metco emises et en circulation et approximativement 1 100 000 actions de Breakwater seront reservees pour emission pour les options et bons de souscriptions octroyees de Metco.
Pour de plus amples renseignements au sujet de l'Arrangement, veuillez vous referer a la circulaire de sollicitation de procuration de la direction datee du 28 mars 2008, disponible sur SEDAR.
Nous comprenons que des lettres d'envoi ont ete transmises aux actionnaires le ou vers le 6 mars 2008 leur demandant de completer et signer la lettre d'envoi et de livrer celle-ci, ainsi que les certificats representant les actions de Metco a Services aux investisseurs Computershare Inc. a ses principaux bureaux de Toronto et Montreal, afin de recevoir les certificats representant les actions ordinaires de Breakwater auxquels ils ont droit.
Les actions ordinaires de Ressources Breakwater Ltee. sont inscrites et admises a la negociation a Bourse de Toronto sous le symbole boursier " BWR ".
Radiation de la cote
Les actions ordinaires de la societe seront radiees de la cote de la Bourse de croissance TSX a la fermeture des affaires le 17 avril 2008.
Pour plus de renseignements au sujet de l'Arrangement, veuillez consulter la circulaire de sollicitation de procurations de la societe datee du 28 mars 2008, disponible sur SEDAR.
TSX-X
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