HAMILTON, ON, June 9, 2017 /CNW/ - Stelco, the name under which U. S. Steel Canada Inc. carries on business ("Stelco" or the "Company") announces that the Ontario Superior Court of Justice (the "Court") has sanctioned its Plan of Compromise, Arrangement and Reorganization (the "Plan") and transaction (the "Transaction") between the Company, Bedrock Industries Group LLC ("Bedrock") and other key stakeholders. The Company is now working towards closing the transaction by June 30, 2017 and emerging from protection under the Companies' Creditors Arrangement Act ("CCAA") at that time. "We have diligently pursued the best possible outcome for almost three years and I sincerely appreciate the constructive engagement from many stakeholders," said Bill Aziz, Chief Restructuring Officer, Stelco. "In particular, I would like to recognize the sustained and focused efforts of Stelco's leadership team and employees across the organization.