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NewWest Gold Corporation Receives Interim Court Order for Arrangement with Fronteer Development Group
NewWest Gold Corporation Receives Interim Court Order for Arrangement with Fronteer Development Group.
About this update from Cullinan Metals Corp
[{"type":"text","content":"\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR FOR DISSEMINATION\n\n\nIN THE UNITED STATES/\n\n\nLAKEWOOD, CO, Aug. 8 /CNW/ - Fronteer Development Group (TSX and AMEX -\nFRG)("Fronteer") and NewWest Gold Corporation (TSX - NWG)("NewWest") announced\ntoday that the British Columbia Supreme Court has issued an interim order\nproviding for the holding of a special meeting of NewWest shareholders and\noptionholders to consider the previously announced arrangement with Fronteer.\n\n\nA special meeting of NewWest's shareholders and optionholders will be\nheld on September 13, 2007 at 10:00am in Toronto, Canada. The record date for\nthe special meeting is August 7, 2007. A management proxy circular and\naccompanying materials are expected to be mailed to shareholders and\noptionholders of NewWest on August 10, 2007.\n\n\nIf approved by shareholders and optionholders of NewWest (voting together\nas a single class), and subject to final court approval and satisfaction of\nconditions to closing, Fronteer would acquire 100% of the outstanding common\nshares of NewWest in exchange for 0.26 of a Fronteer common share for each\nNewWest share acquired.\n\n\nNWG Investments Inc. the owner of approximately 86% of the outstanding\ncommon shares of NewWest, has agreed to vote in favour of the arrangement.\n\n\nABOUT FRONTEER\n\n\nFronteer is an exploration and development company with a track record of\nmaking discoveries. Not including the results of the above transaction,\nFronteer will have exposure to approximately C$42 million in\nexploration/development expenditures and 100,000 metres of drilling throughout\n2007. Fronteer has approximately $102 million in cash, no debt, and holds a\n46.8% interest in Aurora Energy Resources (AXU - TSX), a leading Canadian\nuranium company with a market valuation approaching $1.0 billion.\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&q...