/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.
President and Chief Executive Officer
306-653-2692 or firstname.lastname@example.org.