NORONT RESOURCES LTD. ("NOT")
BULLETIN TYPE: Property-Asset Acquisition
BULLETIN DATE: June 21, 2010
TSX Venture Tier 2 Company


TSX Venture Exchange has accepted for filing documentation pertaining to
Noront Resources Ltd.'s (the "Company") October 13, 2009 Offer to
Purchase, to acquire all the outstanding common shares of Freewest
Resources Canada Inc. ("Freewest") on the basis of 0.2857 of a common
share and 0.1429 of a common share purchase warrant (each warrant will
have an exercise price of $4.00 for a period of 5 years) of the Company
for each common share of Freewest (the "Offer"). The Company issued
3,359,550 common shares and 1,680,366 warrants to Freewest holders who
validly tendered Freewest shares in acceptance of the Offer. The Company
subsequently cancelled 1,915,743 common shares and 958,216 warrants in
connection with the Offer pursuant to the terms of a Purchase and
Settlement Agreement between the Company and the same institutional
investors. As a result, a net of 1,443,789 common shares and 722,150
warrants were issued pursuant to the Offer.


For further information, please refer to The Company's Offer to Purchase
and Take Over Bid Circular dated October 13, 2009 (as filed on SEDAR
under Freewest's profile) and their press release dated October 13,
2009.

Is this the 2 to 7 ratio or did something else happen here with instos who were able to take the CLF deal when the NOT deal went south?