VANCOUVER,
BRITISH COLUMBIA--(Marketwire - Nov. 10, 2009) - Northern Continental
Resources Inc. (TSX VENTURE:NCR) ("Northern Continental" or
the "Company") is pleased to announce that, further to its
press releases dated July 28, 2009 and September 18, 2009, at the
special meeting of Northern Continental shareholders held earlier today
in Vancouver, British Columbia, the shareholders of the Company voted,
by special resolution, to approve the proposed plan of arrangement with
Hathor Exploration Limited ("Hathor"). In total, 99.72% of
the Northern Continental shareholders who voted at today's special
meeting voted to approve the transaction. Under the terms of the
Arrangement Agreement, Hathor will acquire all of the issued and
outstanding shares of Northern Continental, with Northern Continental
shareholders receiving 0.1389 of a common share of Hathor for each
issued and outstanding share of the Company currently held.
The completion of the transaction is subject to receipt of final court
approval and final approval of the TSX Venture Exchange. Assuming
receipt of court approval is obtained, and that all other conditions to
the completion of the transaction are satisfied or waived, including
the final approval of the TSX Venture Exchange, the proposed plan of
arrangement is expected to become effective on or about November 20,
2009.
ON BEHALF OF THE BOARD
Warren Stanyer, President and CEO
This press release contains forward-looking information within the
meaning of Canadian securities laws. Such information includes, without
limitation, information regarding: the completion of the Hathor
Arrangement. These forward-looking statements are made as of the date
of this document and Northern Continental does not intend, and does not
assume any obligation, to update these forward-looking statements.
Although the Company believes that such information is reasonable, it
can give no assurance that such expectations will prove to be correct.
Forward-looking information is typically identified by words such as:
believe, expect, anticipate, intend, estimate, postulate and similar
expressions, or are those, which, by their nature, refer to future
events. The Company cautions investors that any forward-looking
information provided by the Company is not a guarantee of future
results or performance, and that actual results may differ materially
from those in forward looking information as a result of various
factors, including, but not limited to, the state of the financial
markets for the Company's equity securities, the state of the market
for uranium or other minerals that may be produced generally, recent
market volatility, variations in the nature, quality and quantity of
any mineral deposits that may be located, the Company's ability to
obtain any necessary permits, consents or authorizations required for
its activities, to raise the necessary capital or to be fully able to
implement its business strategies and other risks associated with the
exploration and development of mineral properties. The reader is
referred to the Company's most recent annual and interim Management's
Discussion and Analysis for a more complete discussion of such risk
factors and their potential effects, copies of which may be accessed
through the Company's page on SEDAR at www.sedar.com. Although Northern Continental has
attempted to identify important factors that could cause actual
actions, events or results to differ materially from those described in
forward-looking statements, there may be other factors that cause
actions, events or results not to be as anticipated, estimated or
intended. There can be no assurance that forward-looking statements
will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
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