VANCOUVER, BRITISH COLUMBIA--(Marketwire -
July 21, 2009) - Northern Continental Resources Inc. (TSX VENTURE:NCR)
("Northern Continental") announces that in light of the
failure of Denison Mines Corp. to match the superior financial terms
proposed by Hathor Exploration Ltd. for a plan of arrangement, as
announced by Denison on July 20, 2009, Northern Continental has given
Denison notice that it has withdrawn its recommendation and approval of
the Arrangement Agreement between Denison and Northern Continental
dated June 5, 2009 and terminated the Arrangement Agreement.
Northern Continental has accepted the superior proposal from Hathor
Exploration Ltd., offering Northern Continental shareholders 0.1389 of
a Hathor common share for each Northern Continental common share and
will work with Hathor to complete this transaction as quickly as
possible.
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 offer from Hathor Exploration
Ltd. 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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