First Point Minerals Schedules Shareholders' Special Meeting for November 16, 2015
VANCOUVER, BC--(Marketwired - September 17, 2015) - First Point Minerals Corp. (TSX: FPX) ("First Point" or the "Company") is pleased to announce that Monday, November 16, 2015 has been set as the date for the Special Meeting of Shareholders (the "Meeting") to approve the previously announced binding agreement with affiliated companies of Cliffs Natural Resources Inc. (NYSE: CLF) ("Cliffs") to purchase Cliffs' 60% ownership of the Company's flagship Decar nickel project ("Decar" or the "Project"), for an acquisition price of US$4.75 million ("the Transaction" -- see News Release dated September 8, 2015 filed under the Company's profile on the SEDAR website).
The Transaction constitutes a "related party transaction" in the context of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions, ("MI 61-101") because Cliffs holds more than 10% of the voting securities of First Point. Approval of the Transaction by the Company's minority shareholders and acceptance of the Transaction by the Toronto Stock Exchange will result in First Point owning 100% of the Project, which comprises 60 claims covering approximately 24,500 hectares located in the Omineca Mining Division, northwest of the town of Fort St. James, in central British Columbia.
The Record Date for persons entitled to vote at the Special Meeting will be Friday, October 9, 2015.
The Special Meeting will be held at 2:00 p.m. on November 16th in the Boardroom of Computershare Investor Services, located at 510 Burrard Street, 3rd Floor, Vancouver, British Columbia V6C 3B9. It is expected that the Special Meeting materials will be mailed to the registered shareholders and to financial intermediaries holding shares beneficially for Non-Objecting Beneficial Owners on October 20, 2015.
Shareholders who have not received their Special Meeting materials by November 2nd should contact Cecilia Nuñez at (604) 681-8600 or email a request to info@firstpointminerals.com for assistance.
About First Point
First Point Minerals Corp. is focused on the exploration and development of the Decar Nickel-Iron Alloy Project, located in central British Columbia, and other occurrences of the same unique style of naturally occurring nickel-iron alloy mineralization, known as awaruite. For more information, please view the Company's website at www.firstpointminerals.com or contact Jim Gilbert, President and CEO, at (604) 681-8600.
On behalf of First Point Minerals Corp.
Jim Gilbert, President and CEO
Forward-Looking Statements
Certain of the statements made and information contained herein is considered "forward-looking information" within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.
Neither the Toronto Stock Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Contact
First Point Minerals Corp.
Jim Gilbert
President and CEO
(604) 681-8600
info@firstpointminerals.com