12 days left before the special meeting as seen below. Lots can happen from now until then. Remember the expression,"It ain't over until it's over."
Freewest Obtains Interim Order For Plan Of Arrangement With Cliffs Natural Resources Inc.
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Special meeting of Freewest shareholders to be held on January 25, 2010
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Freewest and Cliffs Natural Resources Inc. proceeding with Plan of Arrangement
Montreal, Québec, December 18, 2009 – Freewest Resources Canada Inc. (FWR:TSX-V) 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.