Business
CVG Mining Ltd. liquidity transaction approved by shareholders of Omineca Mining and Metals Ltd.
TSX Venture Exchange Symbol FNR SASKATOON, Sept. 5, 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, Sept. 5, 2013 /CNW/ - 49 North Resources Inc. (\"49 North\" or\n the \"Company\") (TSXV: FNR) announces that the shareholders of Omineca\n Mining and Metals Ltd. (\"Omineca\") (TSXV: OMM) approved the acquisition\n of all the issued and outstanding shares of CVG Mining Ltd. (\"CVG\") by\n Omineca (the \"Transaction\"). CVG is a private British Columbia\n corporation that was formed in 2009 with the sole purpose of exploring\n deposits in the Cariboo Mining district of central British Columbia.\n CVG's primary asset is the Wingdam Project located along Lightning\n Creek near the Wells-Barkerville area, 35 km east of Quesnel, British\n Columbia. 49 North indirectly owns approximately 93% of CVG, with the\n remaining shares of CVG owned by the founders and operators of CVG.\n\n\nIn consideration for the Transaction, 49 North will receive shares\n equaling approximately 67% of the post-closing issued and outstanding\n common shares of Omineca, as well as a $5,400,000 convertible\n debenture. The founders and operators of CVG will receive approximately\n 5% of the post-closing issued and outstanding common shares of Omineca.\n Additional information about the Transaction and Omineca is available\n under Omineca's SEDAR profile at www.sedar.com.\n\n\n49 North is a Saskatchewan focused oil and gas exploration, development\n and production company with a significant resource investment portfolio\n and strategic operations in financial, managerial and geological\n advisory services. Our diversified portfolio of assets includes direct\n project involvement in the resource sector, as well as investments in\n shares and other securities of junior and intermediate mineral and oil\n and gas exploration companies. Additional information about 49 North is\n 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. In particular but without limitation, this press release\n includes references to the successful completion of the Transaction.\n There is no certainty that the Transaction will be completed as\n proposed or at all. Forward-looking information involves known and\n unknown risks, uncertainties and other factors that may cause actual\n results or events to diffe...