Baffinland has been acquired by 1843208 Ontario Inc., a corporation owned as to 70% by ArcelorMittal and as to 30% by Iron Ore Holdings, LP. Pursuant to a plan of arrangement, the Company has been taken private. 

Under the terms of the arrangement, former Baffinland security holders, other than dissenting shareholders, are to receive cash consideration of C$1.50 per common share; C$0.80 per common share purchase warrant issued pursuant to a warrant indenture dated 10 December 2009; and C$0.10 per common share purchase warrant issued pursuant to a warrant indenture dated 31 January 2007.

Baffinland security holders that have not yet received payment for common shares or warrants and hold your securities through your broker should receive payment for your securities directly into your brokerage account. Baffinland security holders that hold a physical share certificate, please complete the letter of transmittal posted below and send it with your share certificate based on the instructions in the document.  



© 2007 Baffinland Iron Mines Corporation