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| | Mon Jun 23, 2008
Firestone Ventures Inc. - Firestone Shareholders Approve Plan of Arrangement
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| | June 23, 2008 --Further to its earlier announcements, including its last announcement of June 13, 2008, Firestone Ventures Inc. ("Firestone" or the "Company") (FV:TSX-V;F5V:FSE) is pleased to announce that at the Special Meeting of shareholders held earlier today, shareholders of Firestone approved the plan of arrangement (the "Arrangement"), whereby the Company will spin out its Sonora Gulch, Chopin and Alberta Sun properties (the "Spin-off Properties") to Northern Tiger Resources Inc. ("Northern Tiger"). In addition, it is anticipated that Northern Tiger will complete its acquisition agreement with Sherwood Copper Corporation's wholly owned subsidiary Minto Explorations Ltd. and close its previously announced private placement upon completion of the Arrangement.
Firestone is also pleased to announce that it has received the final order of the Alberta Court of Queen's Bench, dated June 23, 2008, approving the Arrangement. Upon closing of the Arrangement and related transactions, the Court approved documents will be filed with the Alberta Registrar of Corporations to complete the Arrangement and each Firestone shareholder who was a shareholder of record on June 20, 2008, the Share Distribution Record Date, will receive one common share in Northern Tiger for every five common shares held in Firestone.
Northern Tiger has made application for, and received conditional acceptance for, listing of its shares on the TSX Venture Exchange (the "Exchange"). Upon completion of the Arrangement and assuming final acceptance by the Exchange, the Northern Tiger shares will be distributed, at which time it is anticipated that such shares will be listed and that trading on the Exchange will commence under the symbol "NTR". The Company will disseminate a further news release prior to the start of trading of Northern Tiger.
The requested trading halt of Firestone shares, in place since the close of trading on June 16, 2008, will be removed and the common shares of Firestone will resume trading on Tuesday, June 24, 2008 at market opening. Firestone anticipates that the closing of the Arrangement and related transactions will occur by June 24, 2008.
For additional information, shareholders are referred to Firestone's website at www.firestoneventures.com.
Firestone Ventures Inc. is a well-financed Canadian-based resource exploration and development company with zinc, gold and uranium projects in Western Canada and Central America. The common shares of the Company are currently listed on the TSX Venture Exchange (symbol FV) and the Frankfurt Stock Exchange (symbol F5V).
For further information please contact:
Lori Walton, P. Geol., President
Toll Free: 1-888-221-5588
Fax: (780) 428-3476
info@firestoneventures.com
www.firestoneventures.com
Trading Symbol: FV: TSX-V; F5V: FSE
For Investor Relations please call:
Contact Financial Inc. at (604) 689-7422.
Investors can also visit www.agoracom.com/IR/Firestone or email questions to FV@agoracom.com.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. |
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| | You can view the Next News Releases item: Fri Jun 27, 2008, Firestone Ventures Inc. and Northern Tiger Resources Inc. - Completion of Plan of Arrangement, Private Placement and Transaction with Sherwood Copper's Minto Explorations Ltd.
You can view the Previous News Releases item: Fri Jun 13, 2008, Firestone Ventures Inc. - Trading Halt Requested Pending Shareholder Meeting to Consider Plan of Arrangement
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