CALGARY, ALBERTA - March 28, 2005 /CNW/ - Paramount Resources
Ltd. (TSX:POU) announces that at the special meeting of its shareholders
and optionholders held this morning its shareholders and optionholders
overwhelmingly approved the arrangement under the Business Corporations
Act (Alberta) pursuant to which Paramount's previously announced trust
spinout transaction is to be effected. Shareholders and optionholders
voted 99.9 percent in favour of the arrangement and the arrangement also
received the majority of the minority approval required.
Paramount's application to the Court of Queen's Bench for approval of
the arrangement is scheduled for March 29, 2005. If court approval is
obtained, the trust spinout is scheduled to be completed on April 1,
2005.
