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Freewest Resources Canada Inc receives approval to complete CAD4.15m private placement

Posted on: Thu, 26 Nov 2009 04:40:00 EST

Symbols: FWERF, FWR, CLF

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Under the agreement, Freewest will issue 6,908,440 common shares to
Cliffs at a price of CAD0.60 per share for total proceeds to Freewest
of CAD4.15m.

Proceeds from the private placement will be utilised by Freewest for
working capital purposes and for continuing work on the company's
100%-owned McFaulds property.

Following the transaction, Cliffs will indirectly hold 21,658,440
Freewest shares, approximately 9.73% of the 222,533,479 shares that
will be issued and outstanding.

Georgeson Inc is acting as Freewest's solicitation agent in connection
with the transaction with Cliffs Natural Resources Inc.

(USD1=CAD1.05)

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For full details on (FWERF) FWERF. (FWERF) has Short Term PowerRatings at TradingMarkets. Details on (FWERF) Short Term PowerRatings is available at This Link.

For full details on (FWR) FWR. (FWR) has Short Term PowerRatings at TradingMarkets. Details on (FWR) Short Term PowerRatings is available at This Link.

For full details on Cliffs Nat'l Resources Inc (CLF) CLF. Cliffs Nat'l Resources Inc (CLF) has Short Term PowerRatings at TradingMarkets. Details on Cliffs Nat'l Resources Inc (CLF) Short Term PowerRatings is available at This Link.

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