|By Marketwired .||
|December 11, 2012 04:38 PM EST||
TORONTO, ONTARIO -- (Marketwire) -- 12/11/12 -- Organic Resource Management Inc. (TSX VENTURE:ORI) ("ORMI" or "the Company") today announced that it has obtained a final order from the Ontario Superior Court of Justice approving ORMI's previously announced plan of arrangement (the "Arrangement") with Walker Industries Holdings Limited ("Walker").
The Arrangement has received the required approval by the shareholders of ORMI and is expected to become effective on December 14, 2012 following the satisfaction of certain customary conditions. Pursuant to the Arrangement, Walker will acquire all of the issued and outstanding common shares of ORMI at a price of $3.25 in cash per common share.
Documents pertaining to the Arrangement are available on the SEDAR website at www.sedar.com.
About Organic Resource Management Inc.
Organic Resource Management is Canada's largest provider of vacuum truck services for the collection, processing and recycling of food-related organic residuals into feedstock for biogas renewable energy production. ORMI services in excess of 10,000 grease interceptors for industrial, commercial and institutional food-industry customers across Canada on a regularly-scheduled basis. These services are a critical component of current program initiatives in North American landfill waste diversion and wastewater treatment. Further information about ORMI may be obtained at the Company's web site at www.ormi.com.
This media release includes certain forward-looking statements within the meaning of applicable securities laws relating to the acquisition of the outstanding common shares of ORMI by Walker. Any statements contained herein that are not statements of historical facts may be deemed to be forward-looking statements and therefore subject to unknown risks or uncertainties. The completion of the Arrangement is subject to a number of terms and conditions, including, without limitation, certain termination rights available to ORMI and Walker. Readers are cautioned not to place undue reliance on forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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