Northern Continental Resources Inc.
TSX VENTURE : NCR

Northern Continental Resources Inc.

October 27, 2009 09:01 ET

Northern Continental Announces Acceleration of Warrants Terms

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 27, 2009) - Northern Continental Resources Inc. (TSX VENTURE:NCR) (the "Company") announces that the closing price of its shares has been $0.25 or greater for the ten (10) consecutive trading days ended October 26, 2009. Accordingly, any of the 2,154,900 share purchase warrants issued on January 10, 2008 and April 7, 2008 as part of private placements, which had their exercise prices reduced from $0.40 to $0.20 with the consent of the TSX Venture Exchange and which have not yet been exercised, will now be subject to forced exercise provisions, such that the holders of these warrants will have until the close of business in Vancouver, B.C. on December 1, 2009 within which to exercise these warrants, following which they will expire. As of the date of this News Release, a total of 186,000 of these 2,154,900 share purchase warrants had already been exercised at a price of $0.20 per share, yielding proceeds to the Company of $37,200.

For further information on Northern Continental, visit our website at www.northerncontinental.ca.

ON BEHALF OF THE BOARD OF NORTHERN CONTINENTAL RESOURCES INC.

Warren Stanyer, President & CEO

This press release contains forward-looking information within the meaning of Canadian securities laws. These forward-looking statements are made as of the date of this document and Northern Continental does not intend, and does not assume any obligation, to update these forward-looking statements. Although the Company believes that such information is reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking information provided by the Company is not a guarantee of future results or performance, and that actual results may differ materially from those in forward looking information as a result of various factors, including, but not limited to, the state of the financial markets for the Company's equity securities, the state of the market for uranium or other minerals that may be produced generally, recent market volatility, variations in the nature, quality and quantity of any mineral deposits that may be located, the Company's ability to obtain any necessary permits, consents or authorizations required for its activities, to raise the necessary capital or to be fully able to implement its business strategies and other risks associated with the exploration and development of mineral properties. The reader is referred to the Company's most recent annual and interim Management's Discussion and Analysis for a more complete discussion of such risk factors and their potential effects, copies of which may be accessed through the Company's page on SEDAR at www.sedar.com. Although Northern Continental has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.

Neither the 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 news release.

Contact Information

  • Northern Continental Resources Inc.
    Warren Stanyer
    President
    604-685-9255 or Toll Free: 1-800-449-4435
    www.northerncontinental.ca