Mr. Michael Marcotte reports
REDOMICILIATION: REGISTRATION OF THE SCHEME BOOKLET WITH ASIC
Champion Iron Ltd. has confirmed that the Australian Securities and Investments Commission registered today the scheme booklet in relation to the proposed redomicile of the company by way of a scheme of arrangement.
A full copy of the scheme booklet, which includes an independent expert's report and notice of meeting, is available on SEDAR.
The independent expert, Grant Thornton Corporate Finance Pty. Ltd., has concluded that the redomicile is in the best interests of the company shareholders.
Copies of the scheme booklet and proxy form will be sent to the company shareholders on or around Feb. 10, 2020, Sydney time.
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 Mtpa. 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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