SASKATOON, May 19, 2017 /CNW/ - 49 North Resources Inc. ("49
North") (TSXV: FNR), 602, 224 – 4th Avenue South,
Saskatoon, Saskatchewan, announces
that in connection with the closing of a non-brokered private
placement by Westcore Energy Ltd. ("Westcore") (TSXV: WTR), 602,
224 – 4th Avenue South, Saskatoon, Saskatchewan, 49 North acquired on
May 16, 2017 ownership of 906,667
units ("Units"), each Unit comprised of one common share ("Common
Share") of Westcore, and one common share purchase warrant
("Warrant"). The Common Shares acquired by 49 North represent
approximately 2.44% of Westcore's issued and outstanding Common
Shares. The Warrants acquired by 49 North represent approximately
22.66% of the Warrants issued and outstanding.
Prior to the closing of the non-brokered private placement, 49
North owned 16,521,900 Common Shares, representing 49.92% of
Westcore's issued and outstanding Common Shares. Upon completion of
the private placement, 49 North owns 17,428,567 Common Shares,
representing 46.98% of Westcore's issued and outstanding Common
Shares. Prior to the closing of the non-brokered private placement,
49 North did not own any Warrants. Upon completion of the private
placement, 49 North owns 906,667 Warrants, representing 22.66% of
the issued and outstanding Warrants.
49 North acquired the Units at a price of $0.15 per Unit, for an aggregate price of
$136,000.05. 49 North acquired the
Units for investment purposes. 49 North may in the future take such
actions in respect of its holdings as it may deem appropriate in
light of the circumstances then existing, including acquiring
ownership or control over additional Common Shares or other
securities of Westcore or the disposition of all or a portion of
its holdings in open market or in privately negotiated
transactions.
A copy of the early warning report in respect of this
transaction has been filed with the applicable securities
commissions and can be found at www.sedar.com.
49 North is a corporation incorporated pursuant to the laws of
the Province of Saskatchewan. 49
North is a Saskatchewan focused
resource investment company. Its diversified portfolio of
assets includes investments in shares and other securities of
junior and intermediate mineral and oil and gas exploration
companies.
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.