Cliffs Natural Resources Inc. Announces Proposed Sale of First Point Minerals Shares
CLEVELAND, Sept. 8, 2015 /PRNewswire/ -- Cliffs Natural Resources Inc. (NYSE: CLF) ("Cliffs" or the "Company"), pursuant to the requirements of Canadian securities laws, announced that certain of its affiliated companies have entered into a sale and purchase agreement, dated as of September 7, 2015 (the "Decar Agreement"), in respect of the Decar property with First Point Minerals Corp. (FPX-TSX) ("First Point"). As part of the sale transaction, an affiliated company of Cliffs intends to sell the common shares of First Point beneficially owned by it to one or more purchasers that First Point has agreed to identify pursuant to the terms of the Decar Agreement. Such affiliate of Cliffs is currently the beneficial owner of 14,353,190 common shares in the capital of First Point, representing approximately 13.6% of the issued and outstanding common shares. Cliffs has no present intention of acquiring other securities of First Point.
The Company's address is Cliffs Natural Resources Inc. 200 Public Square, Suite 3300, Cleveland, OH 44114. A copy of the applicable early warning report can be obtained once filed by contacting Paul Finan, Manager, Investor Relations, at email@example.com or 216-694-6544. The report will also be available under First Point's profile on SEDAR at www.sedar.com.
About Cliffs Natural Resources Inc.
Cliffs Natural Resources Inc. is a leading mining and natural resources company in the United States. The Company is a major supplier of iron ore pellets to the North American steel industry from its mines and pellet plants located in Michigan and Minnesota. Cliffs also operates an iron ore mining complex in Western Australia. Additionally, Cliffs produces low-volatile metallurgical coal in the U.S. from its mines located in Alabama and West Virginia. Driven by the core values of safety, social, environmental and capital stewardship, Cliffs' employees endeavor to provide all stakeholders operating and financial transparency. News releases and other information on the Company are available at www.cliffsnaturalresources.com.
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SOURCE Cliffs Natural Resources Inc.
Released September 8, 2015