Aeroquest International Limited Shareholders Approve Combination with Geotech Ltd.
MAY 3, 2012 - 18:36 ET
FOR: AEROQUEST INTERNATIONAL LIMITED
TORONTO, ONTARIO--(Marketwire - May 3, 2012) - Aeroquest International Limited ("Aeroquest") (TSX:AQL) is pleased to announce that its shareholders have overwhelmingly approved the plan of arrangement described in the Management Information Circular of Aeroquest dated April 4, 2012 (the "Arrangement") to complete a business combination with Geotech Ltd.
With approval of more than 95% of the votes cast by shareholders of Aeroquest at the special meeting held on May 3, 2012, Aeroquest will return to court for final approval of the arrangement and proceed to close as soon as possible thereafter. Closing is anticipated to occur on May 14, 2012.
About Aeroquest International
Aeroquest collects and interprets data that reveals what is at and beneath the earth's surface. Aeroquest applies the best available technology in its world-wide search for economic concentrations of mineral and petroleum resources and in the precision-mapping of the earth's surface and objects upon it. Aeroquest offers airborne geophysics surveys through Aeroquest Airborne, aerial geomatics surveys through Aeroquest Mapcon, and the custom design and construction of geophysical sensors and instruments through Geophex. More information about Aeroquest International can be found at www.aeroquest.ca.
This news release may include statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Aeroquest cautions that actual performance will be affected by a number of factors, many of which are beyond its control. Future events and results may vary substantially from what Aeroquest currently foresees. Discussion of the various factors that may affect future results is contained in the recent filings of Aeroquest, available on SEDAR.