TORONTO, ONTARIO--(Marketwired - March 16, 2017) - Frontier Rare Earths Limited ("Frontier" or the "Company")
(OTCQX:FREFF) announces that it has called a special meeting ("Meeting") of holders of ordinary shares of the Company
("Shareholders") to be held at 10:00 a.m. (Luxembourg time) on April 24, 2017 at which Shareholders will consider resolutions
relating to a proposed share consolidation (the "Consolidation") as set out in the Company's management information circular
dated March 15, 2017 (the "Circular").
The Company had previously called a shareholder meeting for October 6, 2016 to consider a potential share
consolidation. Following further consideration by the board and the receipt of comments from staff of the Ontario Securities
Commission ("OSC") in relation to disclosure in the circular with respect to the potential share consolidation and the process
followed by the Company in evaluating the potential transaction, the Company announced on October 5, 2016 that the shareholder
meeting was to be postponed. The Company subsequently determined to undertake a new process in respect of the proposed
Consolidation. A new special committee (the "Special Committee") of the board was established, comprised entirely of
independent directors of the Company, and the Special Committee engaged PSG Capital PTY Limited ("PSG") as independent financial
adviser to provide a fairness opinion on whether the terms of the Consolidation are fair as far as minority shareholders are
concerned and engaged Stikeman Elliott LLP as independent counsel.
The Circular, which outlines the terms of the proposed Consolidation and the process undertaken by the Special Committee,
together with its independent financial adviser and counsel, and the board in consideration thereof, includes an opinion from PSG
to the effect that the terms of the Consolidation are fair, from a financial point of view, to the minority shareholders of the
Company. The Company appointed Goodmans LLP as company counsel in October 2016 and Goodmans have advised the Company in relation
to this matter.
About the Company
Frontier Rare Earths Limited is a mineral exploration and development company principally focused on the development of the
Zandkopsdrift rare earth project in South Africa and the Lurio graphite project in Mozambique.
Cautionary Note Regarding Forward-Looking Information
Forward Looking Statements - This news release contains "forward-looking information", which may include, but
is not limited to, statements with respect to the proposed Consolidation and related matters. Often, but not always,
forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates", or believes" or variations (including negative variations) of
such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken,
occur or be achieved.
Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual
results, performance or achievements of the Company to be materially different from any future results, performance or
achievements expressed or implied by the forward-looking information. Forward-looking information contained herein are made as of
the date of this press release and the Company disclaims, any obligation to update any forward-looking information whether as a
result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or
otherwise, other than as required by Canadian securities laws.
There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such information. Accordingly, the reader is cautioned not to place undue
reliance on forward-looking information.