VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 16, 2009) - Northern Continental
Resources Inc. (TSX VENTURE:NCR) announced today that its board of
directors has determined in consultation with its advisors that the
offer it received from Hathor Exploration
Ltd. on July 15, 2009, offering Northern Continental shareholders
0.1389 of a Hathor common share for each
Northern Continental common share, is a superior proposal to the offer
by Denison Mines Corp. in the Arrangement Agreement between Northern
Continental and Denison dated June 5, 2009.
Northern Continental has given notice to Denison of the determination
and Denison now has until July 20, 2009 at 5:00 P.M. (Pacific Time) to
exercise its right to match the Hathor offer.
Details regarding Denison and the Arrangement Agreement are contained
in Northern Continental's Information Circular of June 9, 2009.
Details regarding the Hathor offer are
contained in Hathor's press release of July,
15, 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 Arrangement with Denison and the
Hathor Offer. 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.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the contents of this
release.
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