Mart Resources, Inc.
TSX : MMT

Mart Resources, Inc.

June 16, 2015 08:30 ET

Mart Resources Reports Voting Results and Announces Securityholder Approvals for Arrangement

CALGARY, ALBERTA--(Marketwired - June 16, 2015) - Mart Resources, Inc. (TSX:MMT) ("Mart" or the "Company") announced that at its annual and special meeting of securityholders held on June 15, 2015 (the "Meeting"), Mart received approval from holders of common shares of Mart ("Mart Shareholders") and holders of options of Mart (collectively, "Mart Securityholders") for the previously announced plan of arrangement (the "Arrangement") pursuant to which, among other things, a wholly-owned subsidiary of Midwestern Oil & Gas Company Ltd. will acquire all of the outstanding common shares of Mart. Pursuant to the Arrangement, Mart Shareholders will receive, for each Mart Share held, $0.80 in cash.

The Arrangement required the approval of: (a) not less than 66 2/3% of the votes cast by Mart Shareholders present in person or represented by proxy at the Meeting; (b) not less than 66 2/3% of the votes cast by Mart Securityholders (voting together as a single class) present in person or represented by proxy at the Meeting, and; (c) a simple majority of the votes cast by Mart Shareholders after excluding the votes cast by those persons whose votes may not be included in determining minority approval of a business combination pursuant to Multilateral Instrument 61-101- Protection of Minority Security Holders in Special Transactions. The Arrangement was passed by over 93% of the votes cast at the Meeting by Mart Securityholders.

Mart Shareholders voted in favour of all items of business put forth to the Mart Shareholders at the Meeting, including the appointment of Deloitte LLP as auditors for Mart and the election of the director nominees. The following are the results of the proxies voted for the election of the following five directors:

Nominee Votes For Votes Withheld
Dmitri Tsvetkov 94.62 % 5.38 %
Derrick Armstrong 91.04 % 8.96 %
Paul Crilly 90.90 % 9.10 %
Dallas Droppo, Q.C. 90.90 % 9.10 %
Leroy Wolbaum 90.89 % 9.11 %

Additional information regarding Mart is available on the Company's website at www.martresources.com and under the Company's profile on SEDAR at www.sedar.com.

NEITHER THE TSX NOR ITS REGULATION SERVICES PROVIDER (AS THE TERM IS DEFINED IN THE POLICIES OF THE TSX) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE RELEASE.

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