Exhibit 99.01
FOR IMMEDIATE RELEASE: February 25, 2005
CONTACT:
Manuel B. Lopez
President
Western Standard Corporation
307-773-5200
WESTERN STANDARD CORPORATION
ANNOUNCES STOCKHOLDER APPROVAL OF MERGER WITH LZ ACQUISITION, INC.
Jackson, Wyoming--Western Standard Corporation (OTCBB: WSTD), owner and
operator of the Snow King Resort in Jackson, Wyoming, announced that at a
Special Meeting of stockholders held today, stockholders voted for the approval
and adoption of the Agreement and Plan of Merger, dated as of November 15, 2004
by and among Snow King Interests LLC ("SKI"), LZ Acquisition and Western
Standard Corporation (the "Company").
Pursuant to the merger agreement, SKI, an entity controlled by Manuel B.
Lopez, President of the Company, has agreed to pay $0.32 per share, in cash, for
each share of common stock of the Company not currently owned by Mr. Lopez,
James M. Peck, a director, and their affiliates. The Company will become a
wholly-owned subsidiary of SKI.
Letters of Transmittal explaining how stockholders of the Company may
exchange their shares for cash will be mailed by the Company's transfer agent in
the next few days.
