Champion Iron to Hold Meeting on Plan of Arrangement with Mamba

Champion Iron Mines Ltd. (TSX:CHM) announced the receipt of an interim order from the Ontario Superior Court of Justice. It allows Champion to hold a meeting at which its shareholders and optionholders “will be asked to consider and, if thought fit, approve a special resolution” regarding the proposed plan of arrangement between Champion, Mamba Minerals Ltd. (ASX:MAB) and 2401397 Ontario Inc., a subsidiary of Mamba.

As quoted in the press release:

The Meeting will be held at the offices of Norton Rose Fulbright Canada LLP, Royal Bank Plaza, South Tower, Suite 3800, 200 Bay Street, Toronto, Ontario on March 27, 2014 at 10:00 a.m. (Toronto time).

To become effective, the Arrangement will require the affirmative vote of (i) at least 66 2/3% of the votes cast at the Meeting by Champion Shareholders, (ii) at least 66 2/3% of the votes cast at the Meeting by the Champion Shareholders and Champion Optionholders voting together as a single class, and (iii) a majority of the votes cast at the Meeting by Champion Shareholders, excluding the votes cast in respect of Champion common shares held by certain interested or related parties or joint actors of Champion.

Click here to read the full Champion Iron Mines Ltd. (TSX:CHM) press release.