Alston Energy Inc. and CanRock Energy Corp. Announce Closing of Arrangement

    




 CALGARY, July 17, 2012 /CNW/ - Alston Energy Inc.  ("Alston") and CanRock Energy Corp.  ("CanRock") are pleased to announce that on July 16, 2012 holders of common  shares ("Shares") of CanRock voted to approve the previously announced plan of  arrangement (the "Arrangement") with Alston which provides for the acquisition by Alston of all of  the outstanding Shares of CanRock. The Arrangement was approved by 100%  of the Shares voted. 

 CanRock also announces that the Court of Queen's Bench of Alberta  granted the final order to approve the Arrangement on July 16, 2012.  The Arrangement was effective on the filing of articles of arrangement,  which occurred as of the date of this news release. 

 As a result of the filing of articles of arrangement, Alston has  acquired all of the outstanding Shares. Holders of Shares received an  aggregate of 103,287,134 common shares of Alston (or 2.321 common  shares of Alston for each share of CanRock). The Shares will be  delisted from the TSX Venture Exchange ("TSXV") and have been halted from further trading on the facilities of the  TSXV effectively immediately. 

 CanRock encourages holders of Shares to complete their letters of  transmittal or instruct their brokers to do so on their behalf. Holders  of Shares have four years from today's date to submit their letter of  transmittal. Any certificate representing common shares that is not  validly deposited by July 17, 2016 shall cease to represent a right or  claim of any kind or nature. 

 This press release is not an offer of the securities for sale in the  United States.  The securities have not been registered under the U.S.  Securities Act of 1933, as amended, and may not be offered or sold in  the United States absent registration or an exemption from  registration.  This press release shall not constitute an offer to sell  or the solicitation of an offer to buy nor shall there be any sale of  the securities in any state in which such offer, solicitation or sale  would be unlawful. 

 The TSX Venture Exchange Inc. has in no way passed upon the merits of  the Arrangement and has neither approved nor disapproved the contents  of this press release. 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 press release.  

CanRock Energy Corp.


CONTACT:  ALSTON ENERGY INC.  Don K. Umbach, President and CEOTelephone: [phone]Email: [e-mail] Troy Winsor, VP Business DevelopmentTelephone: 1-800-663-8072Email: [e-mail] Eckert, COOTelephone: [phone]Email: [e-mail] 


    

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