Northern Aspect Resources Ltd.
TSX VENTURE : NTH.H

April 07, 2014 12:49 ET

Northern Aspect Resources Ltd. Announces Transfer to NEX and Cancellation of Certain Seed Shares

CALGARY, ALBERTA--(Marketwired - April 7, 2014) -

(NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA)

Northern Aspect Resources Ltd. (the "Corporation") (TSX VENTURE:NTH.H), a capital pool company, announces that the common shares of the Corporation have been transferred to NEX. The Corporation received the required shareholder approval for the transfer of trading its common shares to NEX at a special meeting of its shareholders held on March 31, 2014. In connection with the transfer to NEX, a total of 400,000 common shares of the Corporation that constituted "seed shares" under policy 2.4 of the TSX Venture Exchange (the "Exchange") have been cancelled. There are 1,631,300 common shares of the Corporation issued and outstanding.

NEX is a separate board of the Exchange for companies previously listed on the Exchange that have not completed a qualifying transaction within a certain period, among other things. The Corporation was required to complete its qualifying transaction on or before December 29, 2013.

The common shares of the Corporation remain suspended from trading for the time being. The Corporation is currently considering its alternatives and exploring options to improve its working capital position, after which the Corporation expects it will file an application requesting that the common shares be reinstated for trading on NEX. The trading symbol for the Corporation has changed from NTH.P to NTH.H.

Certain statements in this release are forward-looking statements, which include the reinstatement of trading of the common shares of the Corporation. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, estimates, forecasts, projections and other forward-looking statements will not occur. These assumptions, risks and uncertainties include, among other things, the state of the economy in general and capital markets in particular, and other factors, many of which are beyond the control of the Corporation. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, the Corporation disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Corporation undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.

Neither the TSX Venture Exchange nor its Regulation Service 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 Aspect Resources Ltd.
    John Thomson
    Chief Financial Officer
    +44 7876 474609
    +44 1828 686817 (FAX)