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NewWest Gold Corporation Obtains Shareholder Approval for Arrangement with Fronteer Development Group
NewWest Gold Corporation Obtains Shareholder Approval for Arrangement with Fronteer Development Group.
About this update from Cullinan Metals Corp
[{"type":"text","content":"\n\n\n\nLAKEWOOD, CO, Sept. 13 /CNW/ - Fronteer Development Group Inc. (TSX and\nAMEX - FRG)("Fronteer") and NewWest Gold Corporation (TSX - NWG)("NewWest")\nannounced today that at a special meeting held in Toronto on September 13,\n2007, shareholders and optionholders of NewWest voted 100% in favour of the\nacquisition by Fronteer of all of the issued and outstanding shares of NewWest\nthrough a court-approved plan of arrangement. Pursuant to the arrangement,\neach NewWest common share will be exchanged for 0.26 of a Fronteer common\nshare. In addition, all of the outstanding options of NewWest will be\nexchanged for replacement options of Fronteer and will be exercisable to\nacquire that number of common shares of Fronteer determined by reference to\nthe share exchange ratio.\n\n\nNewWest proposes to seek final approval of the Supreme Court of British\nColumbia in respect of the arrangement on September 19, 2007 at 9:45 a.m.\n(PST). Fronteer and NewWest expect to close the transaction on September 24,\n2007.\n\n\nABOUT FRONTEER\n\n\nFronteer is an exploration and development company with a track record of\nmaking big discoveries. Fronteer has no debt and holds approximately a 46.8%\ninterest in Aurora Energy Resources (TSX - AXU), a leading Canadian uranium\ncompany. Fronteer is not invested in any short term commercial paper or\nasset-backed securities. The Company has approximately C$100 million in cash\nthat is fully liquid and held with a large commercial bank.\n\n\nABOUT NEWWEST\n\n\nNewWest is one of the largest holders of precious metals mineral rights\nin Nevada's gold trends, spanning approximately 623,000 acres. NewWest holds\n19 exploration projects, including advanced-stage projects with measured and\nindicated resources. NewWest's goal is to move its projects into production.\n\n\nThis news release includes certain "forward-looking statements" within\nthe meaning of the Private Securities Litigation Reform Act of 1995 and\n"forward-looking information" within the meaning of applicable Canadian\nsecurities laws. Forward-looking statements involve risks, uncertainties and\nother factors that could cause actual results, performance, prospects and\nopportunities to differ materially from those expressed in such\nforward-looking information. Forward-looking information in this n...