Northern Continental Resources Inc.
TSX VENTURE : NCR
July 21, 2009 09:29 ET
Northern Continental Terminates Arrangement With Denison and Accepts Hathor Offer
VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 21, 2009) - Northern Continental Resources Inc. (TSX VENTURE:NCR) ("Northern Continental") announces that in light of the failure of Denison Mines Corp. to match the superior financial terms proposed by Hathor Exploration Ltd. for a plan of arrangement, as announced by Denison on July 20, 2009, Northern Continental has given Denison notice that it has withdrawn its recommendation and approval of the Arrangement Agreement between Denison and Northern Continental dated June 5, 2009 and terminated the Arrangement Agreement.
Northern Continental has accepted the superior proposal from Hathor Exploration Ltd., offering Northern Continental shareholders 0.1389 of a Hathor common share for each Northern Continental common share and will work with Hathor to complete this transaction as quickly as possible.
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 offer from Hathor Exploration Ltd. 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.