TSX Venture Exchange symbol FNR
SASKATOON, SK, May 6 /CNW/ - 49 North Resources Inc. ("49 North" or
"Company") (TSX Venture: FNR) is pleased to announce that at the Annual
and Special Meeting of Shareholders held May 5, 2011 (the "Meeting"),
the Company's shareholders re-elected the incumbent board of directors,
being Tom MacNeill, Brad Munro, Stephen Halabura, Jeffrey Green and C.
Michael Ryer. 49 North also reports the resolutions re-appointing its
auditor and approving the continuation of the Company's stock option
plan were approved.
Following the Meeting, the board of directors of 49 North approved the
grant of 195,000 stock options pursuant to the Company's 2008 Stock
Option Plan. 140,000 of the options were granted to directors and
executive officers, with the balance granted to employees and
consultants. The options are exercisable at $3.60 per share, and if
not exercised, expire May 5, 2021, subject to earlier expiration in
accordance with the 2008 Stock Option Plan and the applicable policies
of the TSX Venture Exchange.
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.