Mr. Michael Marcotte reports
CHAMPION IRON - RE-DOMICILE: FIRST COURT HEARING
The Federal Court of Australia made orders today to convene a meeting of Champion Iron Ltd.'s shareholders to vote on the previously announced proposed redomicile of the company by way of a scheme of arrangement.
A full copy of the scheme booklet, as approved by the Federal Court, is anticipated to be released on the Australian Securities Exchange on Feb. 5, 2020, Sydney time, following registration of the scheme booklet with the Australian Securities and Investments Commission and available on SEDAR on Feb. 4, 2020, Montreal time.
The indicative timetable for completion of the redomicile is as set out in the attached table.
TIMETABLE FOR COMPLETION OF REDOMICILE
Event Date (Sydney) Date (Montreal)
Champion scheme meeting and EGM March 12, 2020 March 11, 2020
Second court date March 20, 2020 March 19, 2020
Effective date March 23, 2020 March 23, 2020
Implementation date April 1, 2020 April 1, 2020
This timetable is indicative only and, among other things, is subject to the satisfaction of or, where applicable, waiver of the conditions precedent to the redomicile and to all necessary shareholder and court approvals. Any variation to the timetable set out herein will be announced to the ASX.
About Champion Iron Ltd.
On April 11, 2016, the company, through its subsidiary, Quebec Iron Ore Inc.,
acquired the Bloom Lake assets from bankruptcy protection.
Following the release of a feasibility study on Feb. 16, 2017, the company recommissioned Bloom Lake in February, 2018, which completed its first shipment on April 1, 2018. In June, 2019, the company released a feasibility study for the phase 2 expansion, which envisions doubling the mine's overall capacity from 7.4 million tonnes per annum to 15 million tonnes per annum. On Aug. 16, 2019, the company finalized the terms of an agreement with Ressources Quebec Inc. whereby the company acquired Ressources Quebec's 36.8-per-cent equity interest in Quebec Iron Ore and now owns 100 per cent of Quebec Iron Ore, which owns the Bloom Lake mine.
We seek Safe Harbor.
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