Freewest Obtains Interim Order for Plan of Arrangement With Cliffs Natural Resources Inc.

Freewest Resources Canada Inc. (TSX VENTURE:FWR) is pleased to announce that it
obtained today an interim order from the Ontario Superior Court of Justice
(Commercial List) with respect to Freewest's previously-announced Plan of
Arrangement with Cliffs Natural Resources Inc. (NYSE:CLF)(PARIS:CLF). The Plan
of Arrangement provides that Freewest shareholders will receive, for each
Freewest share, a fixed amount of $1.00 in Cliffs shares. The interim order,
among other things, authorizes Freewest to call and hold a special meeting of
Freewest shareholders to consider the Plan of Arrangement with Cliffs. In
accordance with the interim order, the special meeting of shareholders will be
held in Montreal on January 25, 2010, with a record date at the close of
business on December 22, 2009.


In connection with the special meeting, Freewest expects to mail a detailed
management proxy circular to Freewest shareholders shortly after the December 22
record date. The circular will include the unanimous recommendation of
Freewest's Board that shareholders vote for the Arrangement with Cliffs, as well
as a fairness opinion of CIBC World Markets Inc., Freewest's financial advisor.


Freewest changed the record date and meeting date for the special meeting from
the previously-announced dates in order to extend the right to vote at the
meeting to those who purchased Freewest shares following the announcement by
Freewest on December 10 of the final purchase price of $1.00 per share.


About Freewest

Freewest is a mineral exploration company actively exploring for gold,
base-metals and chromite within eastern Canada. Corporate information can be
accessed on the Internet at www.freewest.com. Freewest's shares are listed on
Tier 1 of the TSX Venture Exchange under the symbol FWR.


Georgeson is acting as Freewest's solicitation agent in connection with the
proposed Plan of Arrangement with Cliffs Natural Resources Inc. Georgeson may be
contacted as follows:




                            Georgeson
                      100 University Avenue
                     11th Floor, South Tower
                         Toronto, Ontario
                             M5J 2Y1

         North American Toll Free Number: 1-866- 433-7579
         Banks and Brokers Collect Number: 1-212-806-6859



Forward-Looking Statements

This news release contains statements that constitute "forward-looking
information" or "forward-looking statements" within the meaning of applicable
securities legislation. This forward-looking information is subject to numerous
risks and uncertainties, certain of which are beyond the control of Freewest
Resources Canada Inc. ("Freewest"). Actual results or achievements may differ
materially from those expressed in, or implied by, this forward-looking
information. No assurance can be given that any events anticipated by the
forward-looking information will transpire or occur, or if any of them do so,
what benefits that Freewest will derive therefrom. In particular, no assurance
can be given as to whether the proposed plan of arrangement with Cliffs Natural
Resources Inc. will be completed. Forward-looking information is based on the
estimates and opinions of Freewest's management at the time the information is
released and Freewest does not undertake any obligation to update publicly or to
revise any of the forward-looking statements, whether as a result of new
information, future events or otherwise, except as may be required by applicable
securities laws.

Freewest Resources Canada Com Npv (TSXV:FWR)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024