CRC Royalty Corporation Receives Shareholder Approval to Dissolve
VANCOUVER, Dec. 12, 2019 /CNW/ - CRC Royalty Corporation (the "Company") announced that its shareholders approved the dissolution of the Company pursuant to the Business Corporations Act (British Columbia).
The resolutions authorizing the dissolution were approved by more 99.70% of the votes cast by shareholders present or represented by proxy at the special meeting of shareholders (the "Meeting") held on December 9, 2019.
Full details of the dissolution is described in the management information circular of the Company, dated November 5, 2019, prepared in connection with the Meeting. A copy of the Company's management information circular is available on SEDAR at www.sedar.com.
About the Company
The Company commenced operations on October 5, 2011 as a wholly owned subsidiary of WCSB Oil and Gas Royalty Income 2009 Limited Partnership ("the LP"). The Company was created to affect the transaction outlined in the July 26, 2011 "Restructuring Agreement" whereby the former partners of LP became the majority shareholders of the Company. When the LP was dissolved, CRC became the ultimate parent Company and then assumed the reporting requirements from the LP. As part of the corporate restructuring, the Company (formerly the LP) changed its major business activities from holding royalties in oil and gas properties to holding royalty units of Caledonian Royalty Corporation.
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