49 North Resources Inc. Announces Credit Facility for Allstar Energy Limited.
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
SASKATOON, SK, Sept. 20, 2011 /CNW/ - 49 North Resources Inc. ("49 North") (TSX Venture: FNR) is pleased to announce that its wholly owned subsidiary Allstar Energy Limited ("Allstar") has secured credit facilities in the aggregate of $6,800,000 CDN from National Bank of Canada. The facilities are for Allstar's general corporate expenses, to assist in the acquisition of petroleum and natural gas reserves (both producing and non-producing) and to pay out existing credit facilities.
49 North is a Saskatchewan focused resource investment company with strategic operations in financial, managerial and geological advisory services and merchant banking. Our diversified portfolio of assets includes direct project involvement in the resource sector, as well as investments in shares and other securities of junior and intermediate mineral and oil and gas exploration companies. Additional information about 49 North is available at www.sedar.com.
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.
49 North Resources Inc.
President and Chief Executive Officer
306-653-2692 or firstname.lastname@example.org.