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NewWest Gold Corporation Receives Final Court Order For Arrangement with Fronteer Development Group
NewWest Gold Corporation Receives Final Court Order For Arrangement with Fronteer Development Group.
About this update from Cullinan Metals Corp
[{"type":"text","content":"\n\n\n\nLAKEWOOD, CO, Sept. 19 /CNW/ - Fronteer Development Group Inc. (TSX and\nAMEX - FRG)("Fronteer") and NewWest Gold Corporation (TSX - NWG)("NewWest")\nannounced today that the British Colombia Supreme Court has issued a final\norder approving the arrangement between Fronteer and NewWest. Pursuant to the\narrangement, each NewWest common share will be exchanged for 0.26 of a\nFronteer common share (the "share exchange ratio"). In addition, all of the\noutstanding options of NewWest will be exchanged for replacement options of\nFronteer and will be exercisable to acquire that number of common shares of\nFronteer determined by reference to the share exchange ratio.\n\n\nFronteer and NewWest expect to close the transaction on September 24,\n2007. Registered shareholders of NewWest will be required to validly deposit\ntheir NewWest common share certificate with a validly completed letter of\ntransmittal in order to receive their Fronteer common shares. A letter of\ntransmittal was mailed to shareholders in early August, 2007. Details of the\nrequired process are set forth in NewWest's management information circulated\ndated August 7, 2007, a copy of which is available at www.sedar.com.\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. Fronteer has approximately C$100 million in cash that\nis 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...