SASKATOON, SASKATCHEWAN - (CNW - January 3, 2012) - Kimpar
Resources Inc. ("Kimpar"), an 80% owned subsidiary of 49
North Resources Inc. ("49 North") (TSXV: FNR), both of 602,
224 - 4th Avenue South, Saskatoon, Saskatchewan,
announce that in connection with the closing of the
Qualifying Transaction for Capstock Financial Inc.
("Capstock") (TSXV: CPK) on December 30, 2011, Kimpar
acquired ownership of 22,150,000 common shares of
Capstock
(representing 67.86% of Capstock's outstanding common
shares). Following the transaction,
Kimpar holds 67.86% of the issued and outstanding shares of
Capstock.
In connection with the acquisition of securities, Kimpar and
Capstock entered into an asset purchase agreement providing
for the satisfaction of the purchase price for 246 mining
claims of Kimpar and information related thereto, in part,
through the issuance of 17,150,000 common shares of Capstock
to Kimpar at a deemed price of $0.35 per share, as well as
the contemporaneous sale of 5,000,000 Capstock common shares
by third parties to Kimpar at a price of $0.10 per share.
Kimpar acquired the securities for investment purposes.
Kimpar and 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 Capstock or the disposition of all or a portion
of its holdings in open market or in privately negotiated
transactions.
The acquisition of the 17,150,000 common shares was carried
out in accordance with and in reliance on the "Petroleum,
natural gas and mining properties" exemption in section 2.13
of National Instrument 45-106 - Prospectus and Registration
Exemptions which has been adopted by the securities
regulatory authorities in all Provinces of Canada and which
exempts the transfer and issue of such securities from the
prospectus requirements of applicable securities law.
Kimpar and 49 North may be considered to be joint actors
under applicable securities legislation. However, the
issuance of this press release is not an admission that any
entity named in this press
Page 2
release owns or controls any of the securities described in
this press release or is a joint actor with any other entity
named in this press release.
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.
For further information, please contact: Kimpar Resources
Inc.
Vital Arsenault
President
418-534-1212 or varsenault@kimpar.com
49 North Resources Inc. Tom MacNeill
President and Chief Executive Officer
306-653-2692 or ir@fnr.ca.
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