09:47 AM EST - Freewest Resources Canada Inc. : said that its board has unanimously recommended that Freewest shareholders reject the revised "final" offer by Noront Resources Ltd. for all of the common shares of Freewest and not tender their shares to the Noront offer. The Board of Directors concluded that the consideration provided by revised Noront offer is inadequate, from a financial point of view, to Freewest shareholders. The Board of Directors continues to believe that the timing of the Noront offer is opportunistic and disadvantageous to Freewest shareholders. Under the revised Noront offer, Noront is offering, for each Freewest share, 0.2857 of a Noront common share and 0.1429 of a Noront common share purchase warrant, exercisable for five years at an exercise price of $4.00. Freewest Resources Canada Inc.
shares V.FWR are trading even at $0.90.
