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49 NORTH RAISES $2,360,800 AT THE FIRST CLOSING OF BROKERED DEBENTURE PRIVATE PLACEMENT
49 NORTH RAISES $2,360,800 AT THE FIRST CLOSING OF BROKERED DEBENTURE PRIVATE PLACEMENT
About this update from 49 North Resources Inc
[{"type":"text","content":"\n\n\n\n Sep. 24, 2010 (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/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./\n\nTSX Venture Exchange symbol FNR\n\nSASKATOON, Sept. 23 /CNW/ - 49 North Resources Inc. ("49 North" or the "company) is pleased to announce that it raised gross proceeds of $2,360,800 at the first closing of the 8% convertible unsecured subordinated debentures offering. MGI Securities Inc., together with Canaccord Genuity Corp. and Wellington West Capital Inc. acted as agents on the offering, which was carried out under the "offering memorandum" and "accredited investor" exemptions of National Instrument 45-106 - Prospectus and Registration Exemptions. 49 North anticipates it will complete a second and final closing in early October, 2010.\nThe debentures were issued September 23, 2010 pursuant to a trust indenture between the company and Equity Transfer & Trust Company, as trustee. Subject to the detailed terms and conditions of that trust indenture, the debentures have a three year term, maturing September 23, 2013 and bear interest from the date of issue at 8% per annum which, unless the debentures are earlier converted or redeemed in accordance with their terms, will be paid on September 23 in each of 2011 and 2012 and on maturity. The debentures are convertible, at the option of the respective holders, at any time or from time to time prior to 5:00 p.m. (Toronto time) on the...