Raimount enters into arrangement agreement with its wholly-owned subsidiary Mount Rainey Silver Inc.

    




 CALGARY, March 20, 2012 /CNW/ - Raimount Energy Inc. ("Raimount"),   is pleased to announce that it entered into an arrangement  agreement today with its wholly-owned subsidiary Mount Rainey Silver  Inc. ("Mount Rainey").  The agreement provides for a reduction of  Raimount's stated capital by way of a distribution of all of the Mount  Rainey shares held by Raimount to shareholders of Raimount (the  "Arrangement").  Following the Arrangement, Mount Rainey will no longer  be a wholly-owned subsidiary of Raimount and all of the Mount Rainey  shares will be held by Raimount shareholders.  Raimount does not  anticipate that the shareholders of Raimount will suffer any adverse  tax impact as a result of the Arrangement. 

 The Arrangement is to be completed by way of a plan of arrangement  pursuant to the Canada Business Corporations Act (Canada) and is expected to be completed by early May, 2012. Completion  of the Arrangement is subject to approval by Raimount shareholders,  court approval and regulatory approvals. 

 Forward-Looking Statements 

 Statements with respect to the timing for the closing of the Arrangement  and potential tax impact in this news release constitute  forward-looking statements. These statements relate to future events.  The timing is based on the date of the shareholders meeting being held  to approve the Arrangement and tax assessment is based on tax advice  received by the Corporation.  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 including, without  limitation, a delay or adjournment of the meeting, failure to obtain  shareholder approval or failure to receive applicable exchange and/or  court approval. 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] 


    

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