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CALGARY, June 25, 2007 - Aston Hill Financial Inc. (“Aston Hill”) (TSXV: AHF) along with Infra-PSP Canada Inc., a wholly-owned subsidiary of the Public Sector Pension Investment Board is pleased to announce that it has received the approvals of Thunder Energy Trust (“Thunder”) unitholders, exchangeable shareholders and convertible debenture holders at special meetings held on Friday, June 22, 2007 to the previously announced acquisition of Thunder.
The arrangement has also received the approval of the Court of Queen's Bench of Alberta. The closing of the arrangement was completed June 22, 2007 in escrow pending the filing of the articles of arrangement on June 26, 2007. It is currently expected that the units and debentures of Thunder will be de-listed within several business days following the closing.
As a result of the transaction, Thunder will be restructured into a private entity under the name Sword Energy Inc. (“Sword”). Aston Hill will provide management services for the entity through an external management agreement. Under the terms of the management agreement, Aston Hill will receive an acquisition fee for having completed the transaction and quarterly management fees to manage the assets on a go forward basis. In addition to management fees, Aston Hill may be eligible to receive certain performance fees based upon exceeding minimum rates of return. Aston Hill is also participating in the transaction by purchasing 2.24% of Sword for a total consideration of $6.7 million.
Aston Hill Financial Inc. is an investment manager with expertise in oil and gas property management, high-yield structured products, oil and gas portfolio management and private equity.
For further information concerning this press release, please contact:
Eric Tremblay
Chief Executive Officer
Aston Hill Financial Inc.
(403) 770-4817
Larry Titley
Vice President and Chief Financial Officer
Aston Hill Financial Inc.
(403) 770-4808
The TSX Venture Exchange has neither approved nor disapproved the information contained herein.
