49 North Resources Inc.

49 North Resources Inc.

April 09, 2010 19:33 ET

49 North Resources Inc. Announces Acquistion of Shares of Minerva Minerals Limited

SASKATOON, SASKATCHEWAN--(Marketwire - April 9, 2010) - 49 North Resources Inc. ("49 North") (TSX VENTURE:FNR) announces that on April 9, 2010 it acquired ownership of 1,158,667 common shares of Minerva Minerals Limited ("Minerva") (representing 26.75% of Minerva' outstanding common shares) at a cost of $0.06296 per share. The acquisition was completed privately through a series of share purchase agreements. Following the transaction 49 North holds 26.75% of the issued and outstanding common shares of Minerva. 

The shares were acquired by 49 North for investment purposes. 49 North may in the future take such actions in respect of its holdings as it may deem appropriate in light of the circumstances then existing, including acquiring ownership or control over additional common shares or other securities of Minerva or the disposition of all or a portion of its holdings in open market or in privately negotiated transactions.

A copy of the early warning report in respect of this transaction has been filed with the applicable securities commissions and can be found at www.sedar.com.

49 North Resources Inc. is a resource investment, financial and managerial advisory and merchant banking company that invests in the Canadian resource sector, with an emphasis on junior and intermediate mineral and oil and gas exploration companies with activities in Saskatchewan. Additional information about the company is available at www.sedar.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • 49 North Resources Inc.
    Tom MacNeill
    President and Chief Executive Officer