49 North Group Completes Proposed Rollover Transaction
Published : February 04, 2013
( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment

49 North Group Completes Proposed Rollover Transaction

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./

SASKATOON, Feb. 4, 2013 /CNW/ - 49 North Resources Inc. ("49 North") (TSXV: FNR) reports that it has completed its previously announced "Proposed Rollover Transaction" with 49 North 2011 Resource Flow-Through Limited Partnership (the "2011 Fund") and 49 North 2012 Resource Flow-Through Limited Partnership (the "2012 Fund").

Effective February 1, 2013, the 2011 Fund transferred substantially all of its assets - valued at $5,534,463 - on a tax deferred "rollover" basis to 49 North in exchange for 3,416,459 common shares of 49 North (the "Listed Shares"). Following the transfer, the 2011 Fund was wound up and dissolved and the Listed Shares were distributed to the partners of the 2011 Fund. As a result, each (former) limited partner of the 2011 Fund received approximately 5.2354 Listed Shares for each limited partnership unit they formerly held in the 2011 Fund. Also effective February 1, 2013, the 2012 Fund transferred substantially all of its assets - valued at $3,480,995 - on a tax deferred "rollover" basis to 49 North in exchange for 2,148,855 Listed Shares. Following the transfer, the 2012 Fund was wound up and dissolved and the Listed Shares were distributed to the partners of the 2012 Fund. As a result, each (former) limited partner of the 2012 Fund received approximately 5.3067 Listed Shares for each limited partnership unit they formerly held in the 2012 Fund. As a result of completing the Proposed Rollover Transaction, the number of outstanding 49 North common shares increased to 21,194,294 shares.

Additional information about 49 North, the 2011 Fund and the 2012 Fund is available at www.sedar.com.

The securities of the 2011 Fund, the 2012 Fund and 49 North have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This release is issued for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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.

SOURCE: 49 North Resources Inc.

For further information:

49 North Resources Inc.
Tom MacNeill
President and Chief Executive Officer
306-653-2692 or ir@fnr.ca.

49North Resources

CODE : FNR.V
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

49North is an exploration company based in Canada.

49North is listed in Canada. Its market capitalisation is CA$ 4.7 millions as of today (US$ 3.8 millions, € 3.2 millions).

Its stock quote reached its highest recent level on April 08, 2011 at CA$ 4.19, and its lowest recent point on July 31, 2015 at CA$ 0.04.

49North has 58 800 000 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Nominations of 49North Resources
5/6/201349 North announces resignation of board director
Corporate news of 49North Resources
6/30/201449 North Resources Inc. makes annual payment of debenture in...
4/2/201449 North Resources Inc. announces listing of Convertible Deb...
2/24/201449 North Resources Inc. Announces Grant of Stock Options
10/16/201349 North Resources Inc. acquires interest in Omineca Mining ...
9/30/201349 North Resources Inc. announces new board member
6/14/201349 North Resources Inc. Announces New Board Member, Adoption...
5/30/201349 North Resources Inc. Provides Update on Proposal to Deben...
2/4/201349 North Group Completes Proposed Rollover Transaction
11/29/201249 North Resources Inc. acquires interest in Gespeg Copper R...
3/2/2011Westcore and 49 North Provide Update on Drilling at Quasar
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TSX-V (FNR.V)
0.080+14.29%
TSX-V
CA$ 0.080
09/22 12:27 0.010
14.29%
Prev close Open
0.070 0.080
Low High
0.080 0.080
Year l/h YTD var.
0.070 -  0.140 -%
52 week l/h 52 week var.
0.060 -  0.140 -20.00%
Volume 1 month var.
19,000 -5.88%
24hGold TrendPower© : 23
Produces
Develops
Explores for
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
20170.00%0.150.08
20160.00%0.120.06
2015-46.67%0.220.04
2014-11.76%0.560.12
2013-90.00%1.800.11
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.16-3.03%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 3.98-0.13%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 3.76+1.62%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 2.50-3.47%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.19+0.00%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.76+1.33%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 2.09+1.46%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.40-13.41%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 4.48-1.10%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.16+3.33%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 3.35+0.00%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 4.17+1.71%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 8.79+0.46%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.08+6.25%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.27-10.00%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 1.38-2.13%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 0.48+3.23%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 38.02+2.81%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.18+2.94%Trend Power :