OTCQX:HBORF - Post by User
Post by
xxtscon Jul 30, 2011 3:50am
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Post# 18889948
LAK/ FNR
LAK/ FNRSASKATOON- 49 North Resources Inc. (TSXV:FNR) says it has acquired 65 millionshares of Lakota Resources Inc., raising its stake in the company tonearly 17.7 per cent.
TheSaskatoon-based mineral explorer said Friday its debt for equity sharepurchase amounted to 16.5 per cent of Lakota and raised its stake in thecompany to 17.7 per cent.
Tom MacNeill, 49 North's president and CEO, also owns a small stake in the company.
Combined with 49 North's stake, MacNeill will control just over 18 per cent of Lakota.
Lakota Resources is a junior company focused on gold exploration in the east African country of Tanzania.