TORONTO, ONTARIO--(Marketwired - April 20, 2017) - This press release is issued pursuant to Multilateral Instrument 62-104 - Take-Over Bids and Issuer Bids and National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the filing of an early warning report dated the date hereof.
Jim Deluce ("Mr. Deluce") announced today that the voting support agreement dated February 23, 2017 (the "Voting Agreement"), whereby Mr. Deluce was granted the right to vote an aggregate of 21,250,000 common shares in the capital of Beaufield Resources Inc. ("Beaufield") in connection with the most recent annual general meeting of shareholders of Beaufield (the "Annual Meeting"), as previously disclosed in Mr. Deluce's early warning report dated February 23, 2017, has been terminated. At the time that the Voting Agreement was entered into by the parties, 21,250,000 Common Shares represented approximately 11% of the issued and outstanding Common Shares.
On April 12, 2017, Beaufield issued a press release announcing the voting results of the Annual Meeting that was the subject of the Voting Agreement. Based on the foregoing and the unlikelihood of these results being contested or appealed, the subject matter of the Voting Agreement is now considered to be completed and concluded. As a result, the Voting Agreement previously entered into among Mr. Deluce, Shanghai Huaxin Group (Hong Kong) Limited, Sharon Ann Deluce, Bradel Aviation Ltd., Bradel Properties Ltd. and Melkior Resources Inc., is now considered to have ended.
At this time and moving forward, none of the shareholders that were parties to the Voting Agreement intend to be joint actors with each other, with Beaufield, or with any of the other shareholders of Beaufield moving forward with respect to their ownership of Common Shares.
The above-referenced early warning report relating to this press release has been filed on System for Electronic Document Analysis and Review (SEDAR) at www.sedar.com under Beaufield's issuer profile. If you would like to obtain a copy of the early warning report, or if you have any questions in respect of the contents set forth herein, please contact:
Tel: (519) 878-9137