NR (FNR.V & Vicarage): MAKES A FOLLOW ON INVESTMENhttps://www.newswire.ca/en/releases/archive/May2011/12/c4155.html
49 NORTH RESOURCES INC. MAKES A FOLLOW ON INVESTMENT IN VICARAGE CAPITALLIMITED OF LONDON ENGLAND
TSX Venture Exchange symbol FNR
SASKATOON, May 12 /CNW/ - Mr. Tom MacNeill, President and CEO of 49 North ResourcesInc. ("49 North") (TSX Venture: FNR) is pleased to announce 49 North hasacquired an additional 25% interest in Vicarage Capital Limited, a privatecorporate development, investor relations and stock broking firm based in London, England that focuses on supporting small andmid cap natural resource companies. 49 North had acquired an initial 25% stakein the company in June of 2010. Vicarage Capital Limited provides a wide rangeof corporate development, debt, equity, hedge-structuring, pre-IPO advice andcapital raising services for junior resource companies who "fall beneath theradar" of larger brokers in the United Kingdomand European market. Vicarage Capital Limited is authorized and regulated by theUnited Kingdom's Financial Services Authority.
49 North's relationship with Vicarage Capital Limited in thepast year has provided access to new sources of capital and enhanced marketawareness for exploration and development opportunities in which 49 Northinvests. We are excited about the opportunity to increase our holdings in thecompany, which will continue to promote Saskatchewan's potential in the United Kingdom and other European markets.
49 North is a Saskatchewan focused resource investment companywith strategic operations in financial, managerial and geological advisoryservices and merchant banking. Our diversified portfolio of assets includesdirect project involvement in the resource sector, as well as investments inshares and other securities of junior and intermediate mineral and oil and gasexploration companies. Additional information about 49 North is available at www.sedar.com.
Forward Looking Information: This release containsforward-looking information within the meaning of applicable Canadian securitieslegislation, including statements respecting the 49 North's business strategy,future development, growth, opportunities and prospects and anticipated benefitsfrom the transaction. Forward-looking information involves known and unknownrisks, uncertainties and other factors that may cause actual results or eventsto differ materially from those expressed or implied by such forward-lookinginformation. In addition, the forward-looking information contained in thisrelease is based upon what management believes to be reasonable assumptions.Readers are cautioned not to place undue reliance on forward-looking informationas it is inherently uncertain and no assurance can be given that theexpectations reflected in such information will prove to be correct. Theforward-looking information in this release is made as of the date hereof and,except as required under applicable securities legislation, 49 North assumes noobligation to update or revise such information to reflect new events orcircumstances.
Neither TSX Venture Exchange nor its Regulation ServicesProvider (as that term is defined in the policies of the TSX Venture Exchange)accepts responsibility for the adequacy or accuracy of this release.