Forrester Shareholders Approve Plan of Arrangement

TORONTO, April 24, 2017 /CNW/ - Forrester Metals Inc. (the "Company" or "Forrester") (NEX: VEM.H) is pleased to announce that at the Company's special meeting of shareholders held earlier today, Forrester shareholders voted in favour of the proposed arrangement with Zinc One Resources Inc. ("Zinc One") pursuant to which Zinc One will acquire all of the issued and outstanding common shares of Forrester (the "Arrangement").  The Arrangement was approved by approximately 99.9% of the votes cast by: (i) all of the Forrester shareholders voting at the special meeting; and (ii) the majority of disinterested Forester shareholders voting at the meeting in person or by proxy.

Completion of the Arrangement remains conditional on approval by the Ontario Superior Court of Justice and certain other customary closing conditions including receipt of TSX Venture and NEX approval for the transaction.  Forrester will appear before the Ontario Superior Court to request that a final order of the Court approving the Arrangement be issued.  It is expected that Forrester will bring its application to the Court on April 26.  Shortly following receipt of TSX Venture and NEX approval for the transaction, in addition to Court approval, the transaction will close.

Forward-Looking Statements - Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release.  These statements reflect management's current estimates, beliefs, intentions and expectations.  They are not guarantees of future performance.  Each of Zinc One and Forrester cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond their respective control.  Such factors include, among other things: risks and uncertainties relating to each of Zinc One and Forrester's limited operating history, ability to complete the proposed Transaction (including obtaining all necessary shareholder and regulatory approvals), ability to close the Private Placement Financing and the need to comply with environmental and governmental regulations.  Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information.  Except as required under applicable securities legislation, neither Zinc One nor Forrester undertakes no obligation to publicly update or revise forward-looking information.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Forrester Metals Inc.

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