TSX Venture Exchange Symbol FNR
SASKATOON, SK, March 26, 2021 /CNW/ - 49 North Resources Inc.
("49 North" or the "Company") (TSXV: FNR) announces
that at the joint extraordinary meeting of the Debentureholders
held on the 22nd of March, 2021, the special resolution
regarding the restructuring proposal, announced on February 3, 2021, was not approved by the
majority of Debentureholders. While the Series 1 Debenture was
approved by 77% of the vote cast, both the Series 2 debenture and
the unsecured subordinated debentures did not pass.
About 49 North Resources Inc.
49 North is a Saskatchewan
focused resource investment company. The Company's
diversified portfolio of assets includes investments in shares and
other securities of junior and intermediate mineral and oil and gas
exploration companies.
CAUTION REGARDING FORWARD LOOKING
STATEMENTS
Information in this news release that is not a
statement of historical fact constitutes forward-looking
information. Forward-looking statements contained herein include
statements relating to any amendment to the terms of the
Debentures, any actions or approvals of the TSX Venture Exchange,
the Trustee or the applicable holders of Debentures with respect to
amending the Debentures. Forward-looking statements are based on
assumptions management believes to be reasonable at the time such
statements are made. There can be no assurance that such statements
will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on
forward-looking statements. Although the Company has attempted to
identify important factors that could cause actual results to
differ materially from those contained in forward-looking
statements, there may be other factors that cause results not to be
as anticipated, estimated or intended. Factors that may cause
actual results to differ materially from expected results described
in forward-looking statements include, but are not limited to: the
risk that any amendment to the Debentures may not be approved by
the TSX Venture Exchange, the Trustee or the applicable holders of
Debentures, the risk that the Trustee may take enforcement action
under the Senior Indenture and related security agreements,
uncertainties as a result of the global Covid-19 pandemic as well
as those risk factors set out in the Company's Management
Discussion and Analysis and other disclosure documents available
under the Company's profile
at www.sedar.com. Forward-looking
statements contained herein are made as of the date of this news
release and the Company disclaims any obligation to update any
forward-looking statements, whether as a result of new information,
future events or results 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.