Pebercan's Shareholders Give Thumbs Up for Plan of Arrangement

Pebercan announced that its security holders approved a plan of arrangement in order to initiate the Company's liquidation at a special meeting held today.

The arrangement essentially provides for the liquidation of Pebercan pursuant to which the Company will distribute to its common shareholders its net cash stemming from the Company's prorata share of the payment received from Cuban authorities on February 9, 2009, through its subsidiary Peberco Limited.

The arrangement was approve by 99.7% of the Company's security holders present at the meeting or represented by proxy.