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Longbow Resources sold to TriAxon Resources for US$35 million

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Longbow Resources

On June 18, 2008, TriAxon Resources Ltd. announced that it had acquired approximately 93% of the issued and outstanding common shares of Longbow Resources Inc. (TSX VENTURE:LBR) pursuant to its offer and take-over bid circular dated May 12, 2008. A total of 50,354,736 common shares, representing approximately 93% of the issued and outstanding shares of Longbow, were deposited to the offer as of the initial expiry time on June 17, 2008. TriAxon will pay approximately $35 million in cash for all of the common shares deposited to date and intends to acquire all of the remaining common shares not deposited under the offer pursuant to the compulsory acquisition procedures of the Business Corporations Act (Alberta). Longbow was advised in this transaction by Fasken Martineau with a team led by Rod Ferguson and including, among others, Tanner Helwig, Peter Villani and Nicolas Morin (corporate/securities), Tony Baldanza (competition), Frank Schober, Kate Seniowski and student-at-law, Sheldon Good (tax), and Suzanne Porteous and Farrah Sunderani (litigation/employment).



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