BAIKAL FOREST CORP. ("BFC")
BULLETIN TYPE: Delist
BULLETIN DATE: July 11, 2014
TSX Venture Tier 2 Company
Effective at the close of business on Friday, July 11, 2014, the common shares will be delisted from TSX Venture Exchange at the request of the Company.
The delisting of the Company's shares is a result of the proposed amalgamation (the "Amalgamation"} between the Company and 0998803 B.C. Ltd. ("Newco"), a company incorporated by Far East Forest Industry Inc. (the "Acquiror"), to form a successor Baikal Forest Corp. ("Amalco").
With the completion of the Amalgamation, holders ("Minority Shareholders") of common shares of Baikal, other than Newco and certain shareholders (the "Supporting Shareholders") of the Amalgamation who signed a support agreement, received, for each common share, one Class A preferred share of Amalco ("Amalco Class A Preferred Share") and each Amalco Class A Preferred Share is being redeemed for CAD$0.40 in cash without further action of the Minority Shareholders. Payment to the Minority Shareholders will be processed following written acceptance of the Amalgamation and delisting of the Company by the TSX Venture Exchange.
Subsequent to the Amalgamation, Amalco will be a private company that is wholly-owned by the Acquiror and the Supporting Shareholders.
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