VGS Vgs Seismic Canada Com Npv

VGS Seismic Canada Inc. ("VGS" or the "Company") (TSX VENTURE:VGS) is pleased to
announce that, at the Special Meeting of Shareholders held on September 17,
2009, the shareholders (a) approved the reduction of stated capital of VGS, (b)
approved the plan of arrangement involving VGS and Plainfield Luxembourg
S.a.r.l. ("Plainfield Luxembourg") (the "Plan of Arrangement") and (c) approved
and ratified the arrangement agreement, dated July 17, 2009, between VGS and
Plainfield Special Situations Master Fund Limited (the "Arrangement Agreement"),
all as described in the Management Information Circular dated August 12, 2009.
VGS effected the reduction of stated capital on September 17, 2009.


The Company is also pleased to announce that on September 18, 2009, the Court of
Queen's Bench of Alberta granted final approval to the Plan of Arrangement.


The Plan of Arrangement is subject to certain conditions contained in the
Arrangement Agreement which must be satisfied prior to the effective date of the
Plan of Arrangement which is expected to be September 25, 2009 (the "Effective
Date").


Trading in the VGS common shares on the TSX Venture Exchange shall be halted at
the close of the market on September 24, 2009. The VGS common shares are
expected to be de-listed from the Exchange subsequent to the Effective Date.


Under the Plan of Arrangement, on the Effective Date Plainfield Luxembourg will
acquire all outstanding shares of VGS that it does not already own, at a
purchase price of $0.06 per share.


Based in Calgary, Alberta, VGS Seismic Canada Inc. acquires and retains the
ownership rights to digital seismic data for licensing to oil and natural gas
exploration companies. The Company's data library is concentrated in British
Columbia, Southern Alberta and Eastern Saskatchewan.

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