04:01 PM EST - Freewest Resources Canada Inc. : said it has entered into a definitive agreement with Cliffs Natural Resources Inc.to acquire Freewest’s "Ring of Fire" chromite properties. The transaction is expected to close in the first quarter of 2010. Cliffs said it currently owns 6.9% of Freewest's basic shares outstanding, and in addition owns warrants to purchase additional shares of Freewest, which, if exercised, would further increase Cliffs’ ownership to 9.75%. Freewest Resources Canada Inc.
shares V.FWR are trading up $0.09 at $0.64.
