SASKATOON, Sept. 2, 2011 /CNW/ - Mr. Tom MacNeill, the President and Chief Executive Officer of 49 North Resources Inc. ("49 North" or the "Company") (TSX Venture: FNR), is pleased to announce the Company's 80% owned subsidiary Kimpar Resources Inc. ("Kimpar") has entered into an asset purchase agreement dated effective August 30, 2011 respecting the acquisition of all of Kimpar's mineral claims (the "Transaction") by Capstock Financial Inc. ("Capstock"). Capstock is a capital pool company listed on the NEX under the symbol "CPK.H" and the Transaction, if completed, will constitute Capstock's Qualifying Transaction under the policies of the TSX Venture Exchange and a reverse take-over of Capstock by Kimpar. For further information about the Transaction, please see Capstock's news release dated September 1, 2011. Additional information about Capstock is available under Capstock's SEDAR profile at www.sedar.com. Completion of the Transaction is subject to a number of conditions, including TSX Venture Exchange acceptance and approval by the shareholders of Kimpar.
49 North is a Saskatchewan focused resource investment company with strategic operations in financial, managerial and geological advisory services and merchant banking. Our diversified portfolio of assets includes direct project involvement in the resource sector, as well as investments in shares and other securities of junior and intermediate mineral and oil and gas exploration companies. Additional information about 49 North is available at www.sedar.com.