News.. PURE Acquisition to CloseTORR CANADA INC
TORR Canada Files Notice of Special Meeting of Shareholders and Proxy Circular
9/12/2007
MONTREAL, Sep. 12, 2007 (Canada NewsWire via COMTEX News Network) --
TORR Canada Inc. (TSX: TOR) ("TCI" or "the Company"), dedicated to providing water treatment to the Oil & Gas industry, today announced that it has filed its Notice of Special Meeting and Proxy Circular with the relevant Canadian securities authorities in preparation for the special shareholder meeting to be held on Wednesday, October 10th, 2007.
At the special meeting, holders of common shares of TCI registered at the close of business on August 17, 2007 will be asked to vote on a resolution to approve the issuance of up to an aggregate of 16,419,545 common shares of TCI to Hitec Vision Private Equity III AS and Statoil Innovation AS in connection with the Share Sale and Purchase Agreement dated July 30, 2007 relating to the proposed acquisition by TCI of Pure Group AS ("Pure Group"). Shareholders will also be asked to vote on the issuance of up to an aggregate of 500,000 common shares of TCI as incentives to certain key employees of Pure Group, conditional upon the employees still being in the employ of Pure Group on certain specific dates to be determined by the board of directors of TCI.
The Notice of Special Meeting and Proxy Circular will be mailed to shareholders shortly. A copy is also available on the company's website. The document provides important information relating to the proposed issuance of common shares and acquisition as well as with respect to voting procedures.
<< Special shareholder meeting Time: October 10, 2007 at 11:00 a.m. (Eastern time) Place: Le Nouvel Hotel 1740 René-Lévesque Blvd West Montreal, Quebec H3H 1R3 >>
About TORR Canada Inc.
TCI is dedicated to providing water treatment