Huntingdon Announces Securityholder Approval of the Arrangement Involving Slate Capital Corporation

RICHMOND, BC, Oct. 16, 2014 /CNW/ - Huntingdon Capital Corp. (the "Corporation" or "Huntingdon") (TSX: HNT) (TSX: HNT.DB) (TSX: HNT.WT) announced today that its securityholders have voted to approve the previously announced plan of arrangement (the "Arrangement") whereby Slate Capital Corporation ("Slate") will acquire all of the issued and outstanding common shares of Huntingdon and will fund the acquisition of all of Huntingdon's unexercised common share purchase warrants listed on the Toronto Stock Exchange.

92.45% of the Huntingdon shares represented at Huntingdon's special meeting of securityholders held today were voted in favour of the special resolution approving the Arrangement. In addition 92.69% of the votes cast by Huntingdon shareholders and Huntingdon warrantholders, voting together as a single class at the meeting, were voted in favour of the special resolution approving the Arrangement. Furthermore, 90.32% of the votes cast by Huntingdon shareholders, excluding insiders of Huntingdon receiving a collateral benefit in connection with the Arrangement, were voted in favour of the special resolution approving the Arrangement.

Huntingdon currently expects the Arrangement to be effective on or about November 4, 2014. 

As previously announced, pursuant to the indenture (the "Indenture") governing the 7.5% secured debentures of Huntingdon due on December 31, 2016 (the "Debentures"), Huntingdon has offered, conditional upon the completion of the Arrangement, to purchase all of the Debentures at a price equal to 101% of the principal amount of the Debentures plus accrued and unpaid interest, if any, on such Debentures up to, but excluding, the date of acquisition by Huntingdon of the Debentures.

For Debentures to be repurchased, the necessary documentation, including the completed Irrevocable Notice of Acceptance and original Debenture certificate, must be received by Computershare Trust Company of Canada not less than four business days prior to the closing of the Arrangement.  Assuming the Arrangement is completed on November 4, 2014, the necessary documentation must be received by 4:30 PM (PST) on October 28, 2014.

Cautionary statement regarding forward-looking information

Certain statements and information herein, including all statements that are not historical facts, constitute forward-looking statements and forward-looking information within the meaning of applicable securities laws.  Such forward-looking statements or information include, but are not limited to, statements or information with respect to granting of a final order approving the Arrangement by the Supreme Court of British Columbia and the Arrangement becoming effective.

Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the Corporation's actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information.  Although management of the Corporation believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that a forward-looking statement or information herein will prove to be accurate.  See the Corporation's public filings with the Canadian securities administrators for information on risks, uncertainties and other factors relating to the forward-looking statements and information.  Although the Corporation has attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in the forward-looking statements or information, there may be other factors that cause actual results, performances, achievements or events not to be anticipated, estimated or intended.  Also, many of the factors are not within the Corporation's control.  Accordingly, readers should not place undue reliance on forward-looking statements or information.  The Corporation does not undertake any obligation to reissue or update forward-looking statements or information as a result of new information or events after the date hereof except as may be required by law.  All forward-looking statements and information made herein, are qualified by this cautionary statement.

The Toronto Stock Exchange has not reviewed nor approved the contents of this press release and does not accept responsibility for the adequacy or accuracy of this press release.

SOURCE: Huntingdon Capital Corp.

Sandeep Manak, President and Chief Executive Officer, Tel: [phone], Fax: [phone], Email: [email protected]