CALGARY, Feb. 1, 2012 /CNW/ - NewNorth Projects Ltd. ("NewNorth")
(TSXV:NNP) announces that it has completed an amalgamation with its
wholly-owned subsidiary, Ninety North Construction & Development Ltd
(the "Subsidiary"). Pursuant to the amalgamation, all of the issued and
outstanding securities of the Subsidiary have been cancelled and the
assets, obligations and liabilities of the Subsidiary have been assumed
by NewNorth. No securities of NewNorth have been issued in connection
with the amalgamation and the share capital of NewNorth remains the
The amalgamation of NewNorth and the Subsidiary was undertaken in order
to simplify the corporate structure of NewNorth and to reduce
accounting and other administrative costs. The amalgamation will not
have any significant effect on the business and operations of NewNorth.
Neither the 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.
The contents of this release have not been approved or disapproved by
any securities authority or stock exchanges.
SOURCE NewNorth Projects Ltd.
For further information:
Mr. Greg N. Herndier, Chief Executive Officer or Mrs. Shannon Cook, Controller at (403)531-0280