TORONTO, ONTARIO--(Marketwire - May 14, 2012) - Aeroquest International Limited ("Aeroquest") (TSX:AQL) is pleased to announce today that the acquisition of all of the outstanding common shares of Aeroquest (the "Common Shares") by Geotech Ltd. ("Geotech"), pursuant to a court-approved plan of arrangement (the "Arrangement") under the Business Corporations Act (Ontario), has closed.
Geotech acquired all of the issued and outstanding Common Shares of Aeroquest for $0.15 per Common Share pursuant to the Arrangement. The Common Shares are expected to be delisted from the Toronto Stock Exchange following the close of business on May 15, 2012, and Aeroquest has made application to cease to be a reporting issuer under applicable Canadian securities legislation.
About Aeroquest International Limited
Aeroquest collects and interprets data that reveals what is at and beneath the earth's surface. Aeroquest applies the best available technology in its world-wide search for economic concentrations of mineral and petroleum resources and in the precision-mapping of the earth's surface and objects upon it. Aeroquest offers airborne geophysics surveys through Aeroquest Airborne, aerial geomatics surveys through Aeroquest Mapcon, and the custom design and construction of geophysical sensors and instruments through Geophex. More information about Aeroquest International can be found at www.aeroquest.ca.