TSX Venture Exchange symbol FNR
SASKATOON, May 12 /CNW/ - Mr. Tom MacNeill, President and CEO of 49
North Resources Inc. ("49 North") (TSX Venture: FNR) is pleased to
announce 49 North has acquired an additional 25% interest in Vicarage
Capital Limited, a private corporate development, investor relations
and stock broking firm based in London, England that focuses on
supporting small and mid cap natural resource companies. 49 North had
acquired an initial 25% stake in the company in June of 2010. Vicarage
Capital Limited provides a wide range of corporate development, debt,
equity, hedge-structuring, pre-IPO advice and capital raising services
for junior resource companies who "fall beneath the radar" of larger
brokers in the United Kingdom and European market. Vicarage Capital
Limited is authorized and regulated by the United Kingdom's Financial
49 North's relationship with Vicarage Capital Limited in the past year
has provided access to new sources of capital and enhanced market
awareness for exploration and development opportunities in which 49
North invests. We are excited about the opportunity to increase our
holdings in the company, which will continue to promote Saskatchewan's
potential in the United Kingdom and other European markets.
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.
Forward Looking Information: This release contains forward-looking
information within the meaning of applicable Canadian securities
legislation, including statements respecting the 49 North's business
strategy, future development, growth, opportunities and prospects and
anticipated benefits from the transaction. Forward-looking information
involves known and unknown risks, uncertainties and other factors that
may cause actual results or events to differ materially from those
expressed or implied by such forward-looking information. In addition,
the forward-looking information contained in this release is based upon
what management believes to be reasonable assumptions. Readers are
cautioned not to place undue reliance on forward-looking information as
it is inherently uncertain and no assurance can be given that the
expectations reflected in such information will prove to be correct.
The forward-looking information in this release is made as of the date
hereof and, except as required under applicable securities legislation,
49 North assumes no obligation to update or revise such information to
reflect new events or circumstances.
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.
President and Chief Executive Officer
306-653-2692 or firstname.lastname@example.org.