Business
49 North Resources Inc. Announces New Board Member, Adoption of Shareholder Rights Plan and Adoption of Advance Notice Bylaw
TSX Venture Exchange Symbol FNR SASKATOON, June 14, 2013 /CNW/ - 49 North Resourc...
About this update from 49 North Resources Inc
[{"type":"text","content":"\n\n\nTSX Venture Exchange Symbol FNR\n\n\nSASKATOON, June 14, 2013 /CNW/ - 49 North Resources Inc. (\"49 North\" or\n the \"Company\") (TSXV: FNR) is very pleased to announce that Dr. Norman\n Betts has joined its board of directors (the \"Board\").\n\n\nDr. Betts is an associate professor, Faculty of Business Administration,\n University of New Brunswick (\"UNB\") and a Fellow Chartered Accountant\n (FCA). Dr. Betts serves as a director and member of the\n audit committees of Tembec Inc., Tanzanian Royalty Exploration Company,\n New Brunswick Power Company, Export Development Canada and Adex Mining\n Inc. He is also a co-chair of the board of trustees of the UNB Pension\n Plan for Academic Employees. Dr. Betts is a former Finance Minister and\n Minister of Business New Brunswick with the Province of New Brunswick.\n He was awarded a PhD in Management from the School of Business at\n Queen's University in 1992.\n\n\nManagement and the existing Board welcome the addition of Dr. Betts. \n His experience and expertise in governance, reporting and the junior\n resources industry will make a valuable addition to 49 North.\n\n\nShareholder Rights Plan \n\n\nThe Board adopted a shareholders rights plan (the \"Rights Plan\")\n effective June 13, 2013 (the \"Effective Date\"). The Rights Plan was not\n adopted by the Board in response to, or in anticipation of, any offer\n or take-over bid and is not intended to prevent a take-over bid. The\n Rights Plan is subject to the approval of the TSX Venture Exchange and\n to the approval of a majority of shareholders voting at the annual and\n special meeting of shareholders to be held on July 12, 2013 (the\n \"Meeting\"). If the Rights Plan is not ratified by the shareholders, the\n Rights Plan and any Rights (defined below) issued pursuant to it will\n terminate and cease to be effective at that time. If the Rights Plan is\n ratified, it will continue in effect until the third annual meeting of\n shareholders thereafter. The Company's prior shareholders rights plan\n expired on May 3, 2012.\n\n\nThe fundamental objectives of the Rights Plan are to provide adequate\n time for the Board and shareholders to assess an unsolicited take-over\n bid for the Company, to provide the Board with sufficient time to\n explore and develop alternatives for maximizing shareholder value if a\n take-o...