Business
49 North Resources Inc. announces normal course issuer bid
TSX Venture Exchange symbol FNR SASKATOON, Sept. 17, 2012 /CNW/ - 49 North Resource...
About this update from 49 North Resources Inc
[{"type":"text","content":"\n\n\n\n\n\nTSX Venture Exchange symbol FNR\n\n\nSASKATOON, Sept. 17, 2012 /CNW/ - 49 North Resources Inc. (\"49 North\")\n announced today its intention, and its receipt of all required\n regulatory approvals including approval by the TSX Venture Exchange, to\n make a normal course issuer bid (the \"Bid\") for up to 1,578,150 of its\n common shares (the \"Shares\"), representing approximately 10% of 49\n North's public float.\n\n\nThe Bid will commence on September 15, 2012 and continue until the\n earlier of September 15, 2013 and the date by which 49 North has\n acquired the maximum 1,578,150 Shares which may be purchased under the\n Bid.  The Bid will be made through the facilities of the TSX Venture\n Exchange and the purchase and payment for the securities will be made\n in accordance with TSX Venture Exchange requirements at the market\n price of the Shares at the time of acquisition.  All Shares purchased\n by 49 North under the Bid will be cancelled.\n\n\n49 North has appointed MGI Securities Inc. as its broker to conduct the\n normal course issuer bid transactions.\n\n\nManagement believes that the Shares have been trading in a price range\n which does not adequately reflect their value and that the purchase of\n the Shares under the Bid will enhance shareholder value in general. 49\n North has purchased 29,400 Shares at an average price of $2.66 pursuant\n to a normal course issuer bid during the period from September 1, 2011\n to August 31, 2012.\n\n\n49 North is a Saskatchewan focused resource investment company with\n strategic operations in financial, managerial and geological advisory\n services and merchant banking. Our diversified portfolio of assets\n includes direct project involvement in the resource sector, as well as\n investments in shares and other securities of junior and intermediate\n mineral and oil and gas exploration companies. Additional information\n about 49 North is available at www.sedar.com.\n\n\nForward Looking Information: This release contains forward-looking\n information within the meaning of applicable Canadian securities\n legislation. Forward-looking information involves known and unknown\n risks, uncertainties and other factors that may cause actual results or\n events to differ materially from those expressed or implied by such\n forward-looking information. In addition, t...