Cliffs Acquisition of Freewest Completed
28 1월 2010 - 4:51AM
Marketwired
Freewest Resources Canada Inc. (TSX VENTURE: FWR) ("Freewest" or
the "Company") announced today the completion of its previously
announced arrangement (the "Arrangement") under the Canada Business
Corporations Act. The Arrangement was approved on January 25, 2010
by holders of Freewest common shares ("Freewest Shares"). The
Ontario Superior Court of Justice (Commercial List) granted its
final order approving the Arrangement on January 26, 2010.
Pursuant to the Arrangement, Cliffs Natural Resources Inc.
("Cliffs") indirectly acquired all of the Freewest Shares not
already owned by it and its affiliates in exchange for 0.02016 of a
common share of Cliffs per Freewest share (the "Share
Consideration").
Upon surrender to Computershare Investor Services Inc. (the
"Depositary") of certificates representing Freewest Shares that
were outstanding immediately prior to the effective time of the
Arrangement, together with a duly completed and executed Letter of
Transmittal, registered holders of such shares are entitled to
receive the Share Consideration pursuant to, and subject to the
terms and conditions of, the Plan of Arrangement. Each registered
shareholder (other than CDS and DTC) will receive a Direct
Registration Advice (DRA), evidencing the Cliffs shares held by
such shareholder. A shareholder can request to receive a physical
share certificate representing the Share Consideration by
completing the information accompanying the DRA. Any questions
regarding payment of the Share Consideration, including any
requests for an additional copy of the Letter of Transmittal,
should be directed to the Depositary via telephone at
1-800-564-6253 (toll free in North America) or 514-982-7555 or via
email at corporateactions@computershare.com.
Non-registered holders of Freewest Shares that were outstanding
immediately prior to the effective time of the Arrangement should
contact their nominee (i.e., broker, trust company, bank or other
registered holder) which holds the certificates representing such
securities, on their behalf to arrange for surrender and payment
pursuant to the Arrangement.
It is expected that the Freewest Shares will be delisted from
the TSX Venture Exchange later this week. Freewest intends to apply
to the relevant securities regulatory authorities to cease to be a
reporting issuer in each of the jurisdictions in Canada in which it
is currently reporting.
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.
About Cliffs Natural Resources Inc.
Cliffs Natural Resources Inc. is an international mining and
natural resources company. A member of the S&P 500 Index, we
are the largest producer of iron ore pellets in North America, a
major supplier of direct-shipping lump and fines iron ore out of
Australia and a significant producer of metallurgical coal. With
core values of environmental and capital stewardship, our
colleagues across the globe endeavor to provide all stakeholders
operating and financial transparency as embodied in the Global
Reporting Initiative (GRI) framework. Our Company is organized
through three geographic business units:
The North American business unit is comprised of six iron ore
mines owned or managed in Michigan, Minnesota and Canada and two
coking coal mining complexes located in West Virginia and Alabama.
The Asia Pacific business unit is comprised of two iron ore mining
complexes in Western Australia and a 45% economic interest in a
coking and thermal coal mine in Queensland, Australia. The Latin
American business unit includes a 30% interest in the Amapa
Project, an iron ore project in the state of Amapa in Brazil.
Other projects under development include a biomass production
plant in Michigan and Ring of Fire chromite properties in Ontario,
Canada. Over recent years, Cliffs has been executing a strategy
designed to achieve scale in the mining industry and focused on
serving the world's largest and fastest growing steel markets.
Caution Concerning Forward-looking Statements
This news release contains forward-looking statements relating
to Freewest, including statements regarding the delisting of its
securities from the TSX Venture Exchange and it ceasing to be a
reporting issuer. Any statements that are not statements of
historical fact (including statements containing the words
'believes,' 'intends', 'plans,' 'anticipates,' 'expects,'
'estimates' or similar expressions) and refer to management's
expectations or plans and should be considered to be
forward-looking statements. Such forward-looking statements are
subject to important risks, uncertainties and assumptions. The
results or events predicted in these forward-looking statements may
differ materially from actual results or events. As a result, you
are cautioned not to place undue reliance on these forward-looking
statements. The forward-looking statements are based on a number of
assumptions which may prove to be incorrect including, but not
limited to, the applicable regulators and stock exchanges
consenting to the delisting of Freewest's securities and Freewest
ceasing to be a reporting issuer. Readers are cautioned that the
foregoing list is not exhaustive. The forward-looking statements
contained in this news release are made as of the date of this
release and, accordingly, are subject to change after such date.
Except as may be required by Canadian securities laws, Freewest
disclaims any intention and assumes no obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise. Additionally, Freewest
undertakes no obligation to comment on expectations of, or
statements made by, third parties in respect of Freewest or the
acquisition of Freewest by Cliffs.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Cliffs Natural Resources Inc. Mr. Steve R. Baisden
Director, Investor Relations and Corporate Communications
(216)-694-5280 www.cliffsnaturalresources.com
Freewest Resources Canada Com Npv (TSXV:FWR)
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Freewest Resources Canada Com Npv (TSXV:FWR)
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부터 9월(9) 2023 으로 9월(9) 2024