Hathor Extends Offer for Northern Continental Resources
shareholders
Hathor Exploration
Limited (“Hathor”) (TSX-V: HAT) announced today that its offer to
acquire all of the outstanding shares of Northern Continental Resources Inc. (“NCR”)
(TSX-V: NCR) on the basis of 0.40 of a Hathor share for each share of NCR
will be extended to 8:00 p.m.
(Toronto time) on February 19, 2008. All other terms and conditions
contained in the offer remain the same.
A Notice of Extension
will be filed with Computershare Investor Services Inc., the Depositary under
the offer. The Notice of Extension will be mailed to NCR shareholders and
will be filed with the applicable securities regulators in Canada.
The extension will allow sufficient
time for the offering circular to be translated into French for NCR’s Quebec shareholders, and
to allow all shareholders additional time to consider the offer. Hathor
intends to file and to mail to the
NCR shareholders in the near future a Notice of Variation to provide
information regarding Hathor and NCR which is additional to that contained in
the original offer dated November 16, 2007.
Despite NCR’s
efforts to attract competing bids, no other formal offers have been forthcoming
to date. Hathor continues to believe that a consolidation of the two
companies’ interests in the Russell Lake Uranium Project in Saskatchewan is in the
best interests of the NCR shareholders. The acceptance of Hathor’s
offer will also give the NCR shareholders the opportunity to participate in
Hathor’s other projects in the Athabasca Basin and in the
previously-announced “spin-out” of Hathor’s Eskay Creek
Properties into a newly-created public company.
Hathor Exploration
Limited
"Stephen G.
Stanley"
Stephen G. Stanley, Director
The TSX Venture Exchange
has not reviewed and does not accept responsibility for the adequacy or
accuracy of the content of this news release.
Cheers,
Natasha
Dutra, Office Manager
Hathor Exploration Limited
Suite 1910 -
925 West Georgia St.
Vancouver, BC V6C 3L2
T 604-684-6707
F 604-684-9277
www.hathor.ca