Big Rock Brewery Income Trust

Big Rock Brewery Income Trust


December 22, 2010 17:26 ET

Big Rock Brewery Income Trust Announces Securityholder and Court Approval of Conversion to a Corporation

CALGARY, ALBERTA--(Marketwire - Dec. 22, 2010) - Big Rock Brewery Income Trust (the "Trust") (TSX:BR.UN) held a special meeting of holders ("Unitholders") of Trust units (the "Trust Units"), holders of options to purchase Trust Units ("Optionholders") and holders of Trust Unit appreciation rights ("UAR Holders", collectively with the Unitholders and Optionholders, the "Big Rock Securityholders") in Calgary this morning. At the meeting, the Big Rock Securityholders adopted the special resolution authorizing the plan of arrangement to reorganize the Trust into a corporation, with over 99% of the votes represented at the meeting being voted in favour of the special resolution. In addition, the Court of Queen's Bench of Alberta also issued its final order approving the arrangement earlier today.

It is presently anticipated that the conversion will become effective on or about January 1, 2011. Following the completion of the arrangement, the Trust expects the common shares of Big Rock Brewery Inc., the successor to the Trust, to be listed for trading on the Toronto Stock Exchange in early January under the symbols "BR". The Trust Units will be delisted following completion of the arrangement.

The Unitholders also approved the share option plan of Big Rock Brewery Inc. at the meeting.

For more information, readers can view the report of voting results filed by the Trust in respect of the meeting at SEDAR.

Big Rock Brewery Inc.

As stated above, effective with the conversion to a corporation, the Trust will be succeeded by Big Rock Brewery Inc. and it is anticipated that Big Rock Brewery Inc. will pay dividends on a quarterly basis, with the first dividend being paid on or about April 15, 2011.

Forward-Looking Information

This press release contains certain forward-looking statements and forward-looking information ("forward-looking information") within the meaning of applicable Canadian securities laws. Forward- looking information is often, but not always, identified by the use of words such as "anticipate", "believe", "plan", "intend", "objective", "continuous", "ongoing", "estimate", "expect", "may", "will", "project", "should" or similar words suggesting future outcomes. In particular, this press release includes forward-looking information relating to the anticipated timing for listing of Big Rock Brewery Inc. common shares and dividends to be paid by Big Rock Brewery Inc. Management believes the expectations reflected in such forward-looking information are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. Forward-looking information is based on various assumptions. Those assumptions are based on information currently available to management, including information obtained from third party industry analysts and other third party sources and include the historic performance of the businesses, current business and economic trends, and utilization of the tax basis, currency, exchange and interest rates, trading data and cost estimates. You are cautioned that the preceding list of assumptions is not exhaustive. Forward-looking information is not a guarantee of future performance and involves a number of risks and uncertainties some of which are described herein. Any forward-looking information is made as of the date hereof and, except as required by law, the Trust assumes no obligation to publicly update or revise such information to reflect new information, subsequent or otherwise.

The Toronto Stock Exchange has neither approved nor disapproved of the information contained herein.

Contact Information

  • Big Rock Brewery
    Aisling Tomei
    Corporate Relations Manager
    (403) 203-3746
    Cell: (403) 870-6219
    Big Rock Brewery
    Dwayne Dubois
    Chief Financial Officer
    (403) 720-4465
    (403) 236-7523 (FAX)