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Article: Freewest Resources Canada Inc. Appoints Special Committee and Financial Advisor; - CIBC World Markets Inc. appointed as financial advisor - Freewest Board reiterates advice to shareholders to take no action on Noront offer pending formal Board recommendation.
- Article from:
- Marketwire Canada
- Article date:
- October 8, 2009
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MONTREAL, QUEBEC, Oct 8, 2009 (Marketwire via COMTEX) -- Freewest Resources Canada Inc. (TSX VENTURE:FWR) announces that it has constituted a Special Committee of its Board of Directors to consider Freewest's strategic alternatives following an announcement on October 5, 2009 by Noront Resources Ltd. that it intends to make an unsolicited all-share offer for all of the outstanding shares of Freewest. According to Noront's announcement, the offer will consist of one common share of Noront for every four Freewest common shares.
The Special Committee will evaluate all alternatives, which may include the continued execution of Freewest's business plan, a divestiture ...