Business
49 NORTH RESOURCES INC. ANNOUNCES ACQUISTION OF SHARES OF COPPER REEF MINING CORP.
49 NORTH RESOURCES INC. ANNOUNCES ACQUISTION OF SHARES OF COPPER REEF MINING CORP.
About this update from 49 North Resources Inc
[{"type":"text","content":"\n\n\n\n Oct. 19, 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\nTSX Venture Exchange symbol FNR\n\n\nSASKATOON, Oct. 19 /CNW/ - 49 North Resources Inc. ("FNR") (TSX Venture:\n FNR) of 602, 224 - 4th Avenue South, Saskatoon, Saskatchewan announces that in connection with\n the closing of a private placement offering by Copper Reef Mining Corp.\n ("Copper Reef") on October 18th, 2010 it acquired ownership of 850,000 common shares of Copper Reef\n (representing 1.11 % of Copper Reef's outstanding common shares) and\n 850,000 warrants, each exercisable into a common share of Copper Reef\n for $0.20 per share (representing 3.86% of Copper Reef's outstanding\n warrants). Prior to the closing of the private placement, FNR owned\n 6,888,000 common shares of Copper Reef.\n\n\nUpon closing of the private placement, FNR will own 7,738,000 common\n shares (representing 10.12% of Copper Reef's outstanding common shares)\n and warrants exercisable into 850,000 common shares (representing 3.58%\n of the outstanding warrants).\n\n\nIn connection with the subscription for securities, FNR and Copper Reef\n entered into a subscription agreement providing for the issuance of:\n 850,000 units for $0.12 per unit, each unit comprised of 1 common share\n issued on a flow-through basis and 1 share purchase warrant for an\n aggregate purchase price of $102,000.\n\n\nFNR acquired the securities in the private placement for investment\n purposes. FNR may in the future take such actio...