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Message: Freewest Obtains Final Order for Arrangement With Cliffs Natural Resources Inc.

Freewest Obtains Final Order for Arrangement With Cliffs Natural Resources Inc.

posted on Jan 26, 2010 11:24AM




MONTREAL, QUEBEC--(Marketwire - Jan. 26, 2010) - Freewest Resources Canada Inc. (TSX VENTURE:FWR) announces that it today obtained a final order from the Ontario Superior Court of Justice (Commercial List) in respect of its previously-announced Arrangement with Cliffs Natural Resources Inc. (NYSE:CLF)(PARIS:CLF).


Pursuant to the Arrangement, Freewest shareholders will receive 0.02016 of a Cliffs share for each Freewest share, or approximately 20 Cliffs shares for every 1,000 Freewest shares. As previously announced, it is expected that the Arrangement will become effective on Wednesday, January 27, and that Freewest's shares will be delisted from the TSX Venture Exchange shortly thereafter.


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


About Cliffs Natural Resources Inc.


Cliffs Natural Resources (NYSE:CLF)(PARIS:CLF) is an international mining and natural resources company. It is 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, Cliffs' colleagues across the globe endeavor to provide all stakeholders operating and financial transparency as embodied in the Global Reporting Initiative (GRI) framework. Cliffs 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 Eastern 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 South American business unit includes a 30% interest in the Amapa Project, an iron ore project in the state of Amapa in Brazil.


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.


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