49 North Resources Inc. (TSXV:FNR)


49 North Resources Inc is a financial services company that owns a diversified portfolio of assets, including investment in shares, securities of resource issuers, direct involvement in project, etc.

It claims to have operations in managerial advisory and merchant banking business, particularly in the Canadian mineral sector.

The Saskatchewan-based company provides exposure to various coal, diamonds, rare earth elements, base metals, uranium, potash and other precious metals through its investment portfolio.

The company reportedly invests in public and private resource issuers, who are in different stage of development. However, it mentions that it has no fixed restrictions or requirement regarding the sector, resource industry or geographical locations, where the investee companies operate.

49 North reportedly encourages growth and development across resource industry sectors.

It provides the investee companies with various services, including financial, managerial, geological and merchant banking, and advisory services.

The investment company was founded in 2005 as 49 North Resource Flow-Through a limited partnership.

Following a reorganization in 2006, the fund is rebranded as 49 North Resource Fund Limited Partnership. In December, the company was listed on the TSX Venture Exchange (TSXV) with ‘FNR.UN’ as ticker.

Three years later, the company converted into its present corporate structure under the name 49 North Resources Inc. In 2009, it acquired 50 per cent interest in North Rim Exploration.

In addition, it purchased 89.5 per cent stake in Allstar Energy Ltd, an oil and gas production company, in March 2010. Followed by 25 per cent interest in Vicarage Capital Ltd and 100 per cent interest Unity Energy Corp. Two years later, the investment company raised its stake to 100 per cent in Allstar Energy.

In 2010 it entered a joint venture partnership with Westcore Energy Ltd to acquire a Manitoba-based coal property.

Its investee firm, Omineca Mining and Metals Ltd, acquired CVG Mining Ltd in partnership with 49 North in 2013. In 2019 the company discovered hard rock gold targets at the Wingdam project, followed by increasing its gold exploration claims at the project in 2020. Omineca conducts mining and exploration activities at the alluvial gold project.

Contact Information

company address Suite 602 – 224 4th Avenue S Saskatoon, S7K 5M5, SK Canada

company phone306.653.2692

company email[email protected]

company websitehttps://www.fnr.ca

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