DENVER, March 23, 2012 /CNW/ - Resource Capital Fund V L.P. ("RCF") reports that it has acquired ownership of 252,000 common shares ("Common Shares") in the capital of Noront Resources Ltd. ("Noront") by way of an ordinary market transaction through the facilities of the TSX Venture Exchange at a price of C$0.6116 per Common Share, representing approximately 0.12% of Noront's issued and outstanding Common Shares (the "Transaction").
As a result of the Transaction, RCF will own an aggregate of 21,069,987 Common Shares in the capital of Noront, representing approximately 10.11% of Noront's issued and outstanding Common Shares and 9.13% on a fully diluted basis.
The Common Shares were acquired for investment purposes. RCF will evaluate its investment in Noront from time to time and may, based on such evaluation of market conditions and other circumstances, increase or decrease shareholdings in Noront as circumstances require.
For further information and to obtain a copy of the early warning report filed under applicable Canadian securities laws in connection with the transactions hereunder, please see Noront's profile on the SEDAR website www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information:
Resource Capital Fund V L.P.
1400 Sixteenth Street, Suite 200,
Denver, CO, 80202,
Telephone: (720) 946-1444