CALGARY, ALBERTA - April 1, 2005 /CNW/ - Paramount Resources
Ltd. (TSX:POU) announces the successful completion of its trust spinout
transaction. As previously announced, the trust spinout received the
approval of Paramount's shareholders and optionholders at Paramount's
Special Meeting held on March 28, 2005. On March 29, 2005 Paramount
received the final order of the Court of Queen's Bench approving the
arrangement.
The new Common Shares of Paramount and the Trust Units of Trilogy Energy
Trust are expected to start trading on the Toronto Stock Exchange at the
commencement of trading on or about Wednesday, April 6, 2005. The new
Class A Common Shares of Paramount will trade under Paramount's current
trading symbol "POU", while the Trust Units of Trilogy Energy Trust will
trade under the trading symbol "TET.un". Prior to the commencement of
trading of the new Class A Common Shares of Paramount and the Trust
Units of Trilogy Energy Trust, the existing common shares of Paramount
will continue to trade.
With the completion of the trust spinout, there will be issued and
outstanding 64,098,050 new Common Shares of Paramount and 79,133,395
Trust Units of Trilogy Energy Trust, of which Paramount owns 15,035,345
Trust Units representing 19% of the outstanding Trust Units.
