4th May 2005 14:44
Thistle Mining Inc.04 May 2005 Thistle Affected Creditors Approve Plan of Compromise and Reorganization Toronto, 4 May, 2005 - Thistle Mining Inc. (TSX: THT and AIM: TMG) As previously announced, Thistle Mining Inc. ("Thistle") obtained an order onJanuary 7, 2005 from the Ontario Superior Court of Justice to commence Thistle'srestructuring under the Companies' Creditors Arrangement Act ("CCAA"). Thistle announced today that meetings (the "Meetings") of the two classes ofThistle's affected creditors, being the Meridian Creditors (the holders ofclaims in respect of Thistle's senior secured indebtedness) and the NoteholderCreditors (consisting of the holders of claims relating to notes issued byThistle) were held on May 3, 2005 to consider the Thistle plan of compromise andreorganization dated March 24, 2005 pursuant to the CCAA (the "Plan"). The Planwas approved at the Meetings by the requisite majorities of both classes ofThistle's affected creditors as required by the CCAA. Thistle will seek sanction of the Plan by the Ontario Superior Court of Justiceat a hearing to be held on May 10, 2005 at 10:00 a.m. The hearing will takeplace at 393 University Avenue, Toronto, Ontario. Any person wishing to appearat the hearing but who is not on the service list is required to file with theCourt and serve on the solicitors for Thistle, Meridian Capital Limited,PricewaterhouseCoopers Inc., as monitor, and the other parties on the servicelist by no later than 5:00 p.m. on May 5, 2005, a notice of intention to appear. At this time, it is anticipated that Thistle will emerge from its restructuringprocess in late May or early June 2005. For further information, contact Harvey McKenzie, Chief Financial Officer,1-416-594-3293. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
The Mission Group