Northern Continental Resources Inc.
TSX VENTURE : NCR

Northern Continental Resources Inc.

November 10, 2009 19:23 ET

Northern Continental Shareholders Approve Arrangement with Hathor

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 10, 2009) - Northern Continental Resources Inc. (TSX VENTURE:NCR) ("Northern Continental" or the "Company") is pleased to announce that, further to its press releases dated July 28, 2009 and September 18, 2009, at the special meeting of Northern Continental shareholders held earlier today in Vancouver, British Columbia, the shareholders of the Company voted, by special resolution, to approve the proposed plan of arrangement with Hathor Exploration Limited ("Hathor"). In total, 99.72% of the Northern Continental shareholders who voted at today's special meeting voted to approve the transaction. Under the terms of the Arrangement Agreement, Hathor will acquire all of the issued and outstanding shares of Northern Continental, with Northern Continental shareholders receiving 0.1389 of a common share of Hathor for each issued and outstanding share of the Company currently held.

The completion of the transaction is subject to receipt of final court approval and final approval of the TSX Venture Exchange. Assuming receipt of court approval is obtained, and that all other conditions to the completion of the transaction are satisfied or waived, including the final approval of the TSX Venture Exchange, the proposed plan of arrangement is expected to become effective on or about November 20, 2009.

ON BEHALF OF THE BOARD

Warren Stanyer, President and CEO

This press release contains forward-looking information within the meaning of Canadian securities laws. Such information includes, without limitation, information regarding: the completion of the Hathor Arrangement. 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 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

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