| | June 24, 2008
Quinto shareholders approve Cons. Thompson buyout
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| | Also Consolidated Thompson Iron Mines Ltd (C:CLM) News Release
Mr. Richard Quesnel of Consolidated Thompson reports
CONSOLIDATED THOMPSON IRON MINES AND QUINTO MINING ANNOUNCE QUINTO SHAREHOLDERS APPROVE PROPOSED ARRANGEMENT
Quinto Mining Corp. shareholders and Quinto optionholders, voting as one class, have approved the proposed arrangement whereby Consolidated Thompson Iron Mines Ltd. will acquire all of the outstanding common shares of Quinto. At the special meeting called to consider the transaction, shareholders and optionholders holding approximately 63 per cent of outstanding Quinto securities voted with more than 99 per cent of the votes cast being voted for the transaction.
Quinto shareholders will receive one Consolidated Thompson common share and a cash payment of 0.5 cent for every five Quinto common shares held. As a result of the transaction, Consolidated Thompson will acquire neighbouring iron ore deposits, and significantly increase its mineral resources and exploration growth potential. This acquisition will further establish Consolidated Thompson as a significant player in the Labrador Trough iron ore camp, while positioning itself well to participate in further consolidation in the iron ore industry.
Subject to receipt of final court and exchange approval, the transaction is expected to close on June 27, 2008. |
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| | You can view the Previous News Releases item: Tue May 20, 2008, Consolidated Thompson Iron Mines and Quinto Mining Sign Defintive Arrangement Agreement
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