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History
2009
June 2009, 49 North Resource Fund changed name to 49 North Resources Inc.
July 2009, 49 North raises $12.2 million through a regular equity raise
September 2009, 49 North aquires 50% ownership of strategic partner North Rim Exploration
November 2009, the 2009 Fund completes the closing of the 6th flow-through limited partnership offering raising $8.3 million.
2008
Effective January 1, 2008, FNR converts from its limited partnership structure into its current corporate structure under the name 49 North Resource Fund Inc. At the same the limited partnership units are consolidated and exchanged for common shares on a one common share for every two units basis, resulting in a total of 1,399,157 common shares being outstanding. The common shares are listed for trading on the TSX Venture Exchange at the opening on January 2 (symbol FNR).
The 2008 Fund files its (final) prospectus dated February 12, 2008 with securities regulators;
In February, 2008 the 2007 Fund merges into the Listed Fund in a Liquidity Transaction effective February 14 and completed February 26, 2007. Investors in the 2007 Fund exchange their units for common shares of 49 North Resource Fund Inc.; thereby expanding the Listed Fund's portfolio to include holdings in over 50 resource companies and increasing the number of its outstanding common shares to a total of 1,896,677 shares.
May 12, 2008 the 2008 Fund completes the closing of the 4th 49 North flow-through limited partnership offering, raising $9,156,550 on the sale of 915,655 units at $10.00 per unit.
June 5, 2008 49 North to expand business operations - Shareholders Approve Stock Option and Shareholder Rights Plan
July 2008, 49 North raises $5.5 million through issuance of convertible debentures
December 2008, the 2008 II Fund completes the closing of the 5th flow-through limited partnership offering raising $2.2 million
2007
The 2006 Fund merges into FNR in a Transaction completed February 21, 2007. Investors in the 2006 Fund exchange their 2006 units for partnership units of FNR, increasing FNR's portfolio to include holdings in over 40 resource companies and increasing its equity capital to a total of 2,798,314 units.
49 North 2007 Resource Flow-Through Limited Partnership (the 2007 Fund) raises $9,327,700 on the sale of 9,327,700 limited partnership units at $10.00 per unit in an initial public offering and related private placement in all provinces.
49 North 2008 Resource Flow-Through Limited Partnership (the 2008 Fund) files a preliminary prospectus with the securities regulators in all provinces and territories of Canada for an initial public offering of a maximum of 1,500,000 limited partnership units at $10 per unit.
2006
FNR is reorganized, changing its name to 49 North Resource Fund Limited Partnership. On December 28, 2006 the partnership units are listed on the TSX Venture Exchange (symbol FNR.UN).
49 North 2006 Resource Flow-Through Limited Partnership (the 2006 Fund) raises $8,115,030 on the sale of 1,623,006 limited partnership units at $5.00 per unit in an initial public offering in British Columbia, Alberta, Saskatchewan, Manitoba and Ontario.
2005
The inaugural 49 North Flow-Through Fund is established in July 2005 under the name 49 North Resource Flow-Through Limited Partnership (FNR). In December FNR completes an initial public offering in Saskatchewan raising $6,000,000 on the sale of 1,200,000 flow-through units at $5.00 per unit which is invested in an initial portfolio of flow-through shares of 14 resource companies.
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49 North Resources Inc. |
