TSX Venture Exchange Symbol
FNR
SASKATOON, May 31, 2018 /CNW/ - 49 North Resources Inc.
("49 North" or the "Company") (TSXV: FNR) announces
that it is making an application to the TSX Venture Exchange (the
"Exchange") to amend the expiry date and the exercise price
of its share purchase warrants that were originally issued on
June 16, 2016 (the
"Warrants"). The Warrants that are the subject of the
amendment application were originally set to expire on June 16, 2018 with an exercise price of
$0.15. The application is to both
amend the expiry date to June 16,
2019 and amend the exercise price to $0.10. For further information on the original
issuance of the Warrants, please see the Company's press releases
dated June 3, 2016 and June 16, 2016.
The Company's directors, officers and control persons hold in
aggregate more than 10% of the Warrants, and as a result the
aggregate number of repriced Warrants held by such persons will be
limited to 1,000,000 in total, being 10% of the total number of
Warrants. The repricing of the Warrants held by the Company's
directors, officers and control persons will be done on a pro
rata basis amongst said persons.
Completion of the proposed amendment to the terms of the
Warrants is subject to the final approval of the Exchange.
49 North is a Saskatchewan
focused resource investment company. Our diversified portfolio
of assets includes investments in shares and other securities of
junior and intermediate mineral and oil and gas exploration
companies.
Forward Looking Statements
This release
includes forward-looking statements regarding 49 North and its
business. Such statements are based on the current
expectations and views of future events of 49 North's
management. In some cases the forward-looking statements can
be identified by words or phrases such as "may", "will", "expect",
"plan", "anticipate", "intend", "potential", "estimate", "believe"
or the negative of these terms, or other similar expressions
intended to identify forward-looking statements. The
forward-looking events and circumstances discussed in this release
may not occur and could differ materially as a result of the
failure to complete the amendment of the Warrants, known and
unknown risk factors and uncertainties affecting 49 North,
including risks regarding the resource industry, economic factors
and the equity markets generally and many other factors beyond the
control of 49 North. No forward-looking statement can be
guaranteed. Forward-looking statements and information by
their nature are based on assumptions and involve known and unknown
risks, uncertainties and other factors which may cause our actual
results, performance or achievements, or industry results, to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking statement
or information. Accordingly, readers should not place undue
reliance on any forward-looking statements or information.
Forward-looking statements speak only as of the date on which they
are made and 49 North undertakes no obligation to publicly update
or revise any forward-looking statement, whether as a result of new
information, future events, or otherwise, except as required by
applicable securities laws.
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.
SOURCE 49 North Resources Inc.