Champion Iron gets TSX conditional OK for Mamba listing

2014-03-20 15:59 ET - News Release

Mr. Thomas Larsen reports

CHAMPION ANNOUNCES TORONTO STOCK EXCHANGE CONDITIONAL APPROVAL FOR THE LISTING OF MAMBA MINERALS ORDINARY SHARES TO BE ISSUED UNDER THE PLAN OF ARRANGEMENT

The Toronto Stock Exchange has conditionally approved the listing on the TSX of the ordinary shares of Mamba Minerals Ltd., which will be issued to the shareholders of Champion Iron Mines Ltd. in exchange for their Champion common shares pursuant to the terms of the previously announced plan of arrangement between Champion, Mamba and 2401397 Ontario Inc. (subsequently renamed Champion Exchange Ltd.). As previously announced, it is a condition of closing of the arrangement that the TSX conditionally approve the listing of Mamba ordinary shares on the TSX on completion of the arrangement.

As at closing of the arrangement, which is expected to be on March 31, 2014, Mamba will change its name to Champion Iron Ltd., and its ordinary shares (whether currently issued or issued as part of the arrangement) will trade on both the TSX and the Australian Securities Exchange, thus providing the resulting iron ore company with access to both the Canadian and Australian capital markets, and the shareholders of the combined entity with the ability to trade Mamba ordinary shares on either stock exchange.

Champion is also pleased to announce that Mamba's shareholders today approved at an extraordinary general meeting of shareholders all resolutions relating to the arrangement. Champion securityholders will vote on the arrangement on March 27, 2014, with the closing expected on March 31, 2014, shortly after receipt of final court approval.

We seek Safe Harbor.