Raimount completes spin out of its wholly-owned subsidiary Mount Rainey Silver Inc.

    




 CALGARY, May 14, 2012 /CNW/ - Raimount Energy Inc. ("Raimount" or the "Corporation"), TSXV: RMT is  pleased to announce that its previously announced arrangement agreement  (the "Arrangement") with its wholly-owned subsidiary Mount Rainey  Silver Inc. ("Mount Rainey") has been approved by the shareholders of  the Corporation and that the Corporation has been granted a final order  of the Court of Queen's Bench of Alberta dated May 2, 2012.   Accordingly, Articles of Arrangement effecting the Arrangement were  filed on May 14, 2012 for the Arrangement.  Pursuant to the  Arrangement, Raimount's shareholders of record as of May 14, 2012,  shall receive one Mount Rainey share for each Raimount share held.  The  Corporation anticipates that the distribution of the Mount Rainey  shares under the Arrangement will be effected on or before May 18,  2012. 

 Forward-Looking Statements 

 Statements with respect to the timing for distribution of the Mount  Rainey shares pursuant to the Arrangement in this news release  constitute forward-looking statements. These statements relate to  future events. The timing is based on the advice received by the  Corporation by its transfer agent to effect the distribution.  All  statements other than statements of historical fact are forward-looking  statements. These statements involve known and unknown risks,  uncertainties and other factors that may cause actual results or events  to differ materially from those anticipated in such forward-looking  statements. Although Raimount believes these statements to be  reasonable, no assurance can be given that these expectations will  prove to be correct and such forward-looking statements included in  this news release should not be unduly relied upon.  The  forward-looking statements contained in this news release represent  Raimount's expectations as of the date hereof, and are subject to  change after such date. Raimount disclaims any intention or obligation  to update or revise any forward-looking statements whether as a result  of new information, future events or otherwise, except as may be  required by applicable securities regulations. 

 Neither the TSX Venture Exchange nor its Regulation Service Provider (as  that term is defined in policies of the TSX Venture Exchange) accepts  responsibility for the adequacy or accuracy of this release. 



Raimount Energy Inc.


CONTACT:  Raimount Energy Inc.Gregory A. Vavra, President403-265-6292 ext. [e-mail] 


    

Copyright