49 North Resource Fund Inc.

49 North Resource Fund Inc.

December 05, 2007 15:55 ET

49 North Unitholders Approve Conversion Transaction

SASKATOON, SASKATCHEWAN--(Marketwire - Dec. 5, 2007) - Management of 49 North Resource Fund Limited Partnership (TSX VENTURE:FNR.UN) announced today that unitholders have approved the proposed conversion of the Fund from its current, limited partnership structure into a corporate structure. The conversion is scheduled to occur January 1, 2008, at which time all of the Funds outstanding units will be exchanged for common shares of 49 North Resource Fund Inc. and, as part of that conversion, consolidated on the basis of one common share for every two limited partnership units. Complete details of the conversion transaction were previously disclosed in the Fund's information circular for the special meeting of unitholders which was held December 4, 2007.

49 North Resource Fund is a closed-end investment fund focused on investment in junior and intermediate mineral and oil and gas exploration companies.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • 49 North Resource Fund Limited Partnership
    Tom MacNeill
    President & CEO
    (306) 664-4626