49 North Resources Inc. announces normal course issuer bid
SASKATOON, Sept. 17, 2012 /CNW/ - 49 North Resources Inc. ("49 North") announced today its intention, and its receipt of all required regulatory approvals including approval by the TSX Venture Exchange, to make a normal course issuer bid (the "Bid") for up to 1,578,150 of its common shares (the "Shares"), representing approximately 10% of 49 North's public float.
The Bid will commence on September 15, 2012 and continue until the earlier of September 15, 2013 and the date by which 49 North has acquired the maximum 1,578,150 Shares which may be purchased under the Bid. The Bid will be made through the facilities of the TSX Venture Exchange and the purchase and payment for the securities will be made in accordance with TSX Venture Exchange requirements at the market price of the Shares at the time of acquisition. All Shares purchased by 49 North under the Bid will be cancelled.
Management believes that the Shares have been trading in a price range which does not adequately reflect their value and that the purchase of the Shares under the Bid will enhance shareholder value in general. 49 North has purchased 29,400 Shares at an average price of $2.66 pursuant to a normal course issuer bid during the period from September 1, 2011 to August 31, 2012.
49 North Resources Inc. announces normal course issuer bid
SASKATOON, Sept. 17, 2012 /CNW/ - 49 North Resources Inc. ("49 North") announced today its intention, and its receipt of all required regulatory approvals including approval by the TSX Venture Exchange, to make a normal course issuer bid (the "Bid") for up to 1,578,150 of its common shares (the "Shares"), representing approximately 10% of 49 North's public float.
The Bid will commence on September 15, 2012 and continue until the earlier of September 15, 2013 and the date by which 49 North has acquired the maximum 1,578,150 Shares which may be purchased under the Bid. The Bid will be made through
 the facilities of the TSX Venture Exchange and the purchase and payment for the securities will be made in accordance with TSX Venture Exchange requirements at the market price of the Shares at the time of acquisition. All Shares purchased by 49 North under the Bid will be cancelled.
Management believes that the Shares have been trading in a price range which does not adequately reflect their value and that the purchase of the Shares under the Bid will enhance shareholder value in general. 49 North has purchased 29,400 Shares at an average price of $2.66 pursuant to a normal course issuer bid during the period from September 1, 2011 to August 31, 2012.