TSX Venture Exchange Symbol FNR
SASKATOON, Sept. 17, 2012 /CNW/ - 49 North Resources Inc. ("49 North" or
the "Company") (TSXV: FNR) announces suspension of its quarterly
dividend program. Under the current prevailing market conditions in
the junior resource sector, including but not limited to a lack of
liquidity in the junior markets, 49 North deems that it is the most
prudent option to deploy its capital towards expanding and further
developing its own core assets, as well as providing market support to
our larger portfolio holdings at a time where many of the companies in
our portfolio are trading at historically low levels. Management and
the board of directors unanimously believe this will be a far more
accretive use of capital at this time. The Company will review its
dividend policy on a regular and ongoing basis.
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.
SOURCE: 49 North Resources Inc.
For further information:
49 North Resources Inc.
President and Chief Executive Officer
306-653-2692 or email@example.com.