TSX Venture Exchange symbol FNR
SASKATOON, Sept. 2, 2011 /CNW/ - Mr. Tom MacNeill, the President and
Chief Executive Officer of 49 North Resources Inc. ("49 North" or the
"Company") (TSX Venture: FNR), is pleased to announce the Company's 80%
owned subsidiary Kimpar Resources Inc. ("Kimpar") has entered into an
asset purchase agreement dated effective August 30, 2011 respecting the
acquisition of all of Kimpar's mineral claims (the "Transaction") by
Capstock Financial Inc. ("Capstock"). Capstock is a capital pool
company listed on the NEX under the symbol "CPK.H" and the Transaction,
if completed, will constitute Capstock's Qualifying Transaction under
the policies of the TSX Venture Exchange and a reverse take-over of
Capstock by Kimpar. For further information about the Transaction,
please see Capstock's news release dated September 1, 2011. Additional
information about Capstock is available under Capstock's SEDAR profile
at www.sedar.com. Completion of the Transaction is subject to a number of conditions,
including TSX Venture Exchange acceptance and approval by the
shareholders of Kimpar.
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. In particular but without limitation, this press release
includes statements respecting the successful closing of the
Transaction and anticipated benefits from the Transaction. There is no
certainty the Transaction will be completed. 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 email@example.com.