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Champion Iron Ltd
Symbol CIA
Shares Issued 445,179,122
Close 2020-03-11 C$ 1.53
Recent Sedar Documents

Champion Iron receives shareholder OK for redomicile

2020-03-11 23:21 ET - News Release

Mr. David Cataford reports

CHAMPION IRON REDOMICILE: RESULTS OF SCHEME MEETING AND EXTRAORDINARY GENERAL MEETING

Champion Iron Ltd. has released the results of the scheme meeting to approve the redomicile of Champion from Australia to Canada by way of a scheme of arrangement. As shown herein, the motion to approve the scheme of arrangement was passed by the requisite statutory majorities.

         INSTRUCTIONS GIVEN TO VALIDLY APPOINTED PROXIES IN RESPECT OF THE RESOLUTION

                              For             Against         Discretionary              Abstain

Holders voting                 85                   6                     8                    3
Votes cast            280,616,785              15,185             1,503,185              507,263

          INSTRUCTIONS GIVEN BY VALIDLY APPOINTED PROXIES OR CAST IN PERSON ON THE POLL 
                       (where applicable in respect of the resolution)

                                          For             Against         Abstain      Resolution result

Holders voting                    101 (97.12%)           3 (2.88%)              3                Carried
Votes cast                287,683,018 (99.99%)      15,185 (0.01%)        507,263                Carried

Separately, the company also held an extraordinary general meeting in relation to the buyback of the special voting share. The resolution to approve the buyback was also passed by the requisite statutory majorities as set out herein.

        INSTRUCTIONS GIVEN TO VALIDLY APPOINTED PROXIES IN RESPECT OF THE RESOLUTION

                          For          Against         Discretionary                 Abstain

Votes cast        269,490,884           14,785             1,433,317                 508,837

                     INSTRUCTIONS GIVEN BY VALIDLY APPOINTED PROXIES OR CAST IN PERSON ON THE POLL 
                                    (where applicable in respect of the resolution)

                                    For                  Against                  Abstain        Resolution result

Votes cast          276,467,910 (99.99%)           14,785 (0.01%)                 508,337                  Carried

A hearing of the federal court to approve the scheme of arrangement will be held at 10:15 a.m. AEDT, Sydney time, on March 20, 2020. The scheme of arrangement will not be effective unless and until the approval of the federal court is obtained and a court order has been lodged with the Australian Securities and Investments Commission.

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 Inc. and now owns 100 per cent of Quebec Iron Ore Inc., which owns the Bloom Lake mine.

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