Business
49 NORTH GROUP ANNOUNCES TERMS OF PROPOSED ROLL-OVER TRANSACTION
Jan. 27, 2011 (Canada NewsWire Group) -- NOT FOR DISTRIBUTION TO UNITED STA TES NEWSWIRE...
About this update from 49 North Resources Inc
[{"type":"text","content":"\n\n\n\n Jan. 27, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nNOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES\n\n\nSASKATOON, Jan. 27 /CNW/ - 49 North Resources Inc. ("49 North") (TSX\n Venture: FNR) is pleased to announce that the TSX Venture Exchange has\n conditionally accepted its "Proposed Roll-over Transaction" with 49\n North 2010 Resource Flow-Through Limited Partnership (the "2010 Fund")\n originally announced December 1, 2010.\n\n\nThe Proposed Roll-over Transaction is expected to close effective\n February 1, 2011. At closing, the 2010 Fund will transfer substantially\n all of its assets - consisting of a portfolio of flow-through shares in\n 8 resource companies - to 49 North on a tax deferred "roll-over" basis\n in exchange for common shares of 49 North (the "Listed Shares");\n immediately following which the 2010 Fund will be wound-up and the\n Listed Shares distributed amongst its partners. For the purpose of this\n transaction, the transferred assets of the 2010 Fund are expected to be\n valued at approximately $8,088,084 and the Listed Shares valued at\n $2.98 per share. As a result, a total of approximately 2,714,112 Listed\n Shares will be issued, representing an expected exchange ratio of\n approximately 3.02 Listed Shares for each of the 898,021 flow-through\n limited partnership units of the 2010 Fund currently outstanding.\n\n\nAs a result of the Propos...