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49 North Resources sells 50% stake in North Rim Exploration for C$950,000

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49 North Resources sells 50% stake in North Rim Exploration for C$950,000

49 North ResourcesInc. said April 5 that it has sold its 50% interest in to a third partygeo-consultancy and engineering firm for C$950,000 in cash, subject to certain post-closingadjustments.

The sale represents a successful exit from a private portfoliocompany.

Proceeds, along with dividends received, represent around a 280%return on 49 North's initial investment.