10:13:48 EDT Fri 29 Mar 2024
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Natan closes QT, resumes trading as mining issuer

2013-04-19 19:48 ET - News Release

Mr. Brett Matich reports

NATAN ANNOUNCES CLOSING OF ITS QUALIFYING TRANSACTION

Further to the news releases of Feb. 7, March 27 and April 11, 2013, Natan Resources Ltd. has completed its qualifying transaction described in the company's amended filing statement dated effective April 9, 2013, a copy of which is available under the company's SEDAR profile. Effective at the opening of market on April 19, 2013, the trading symbol for the company changed from NRL.P to NRL, and the common shares of the company resumed trading on the TSX Venture Exchange. Pursuant to the policies of the TSX-V, the company is no longer a capital pool company and is now classified as a Tier 2 mining issuer.

Description of the qualifying transaction

The company's qualifying transaction consisted of a share exchange agreement dated Jan. 22, 2013, between the company and Bethlehem Iron Ore Corp. for the acquisition of all of the issued and outstanding common shares of Bethlehem in exchange for common shares of Natan. For further details on the transaction, please see the company's news release dated Feb. 7, 2013. In connection with the qualifying transaction, Natan issued one million common shares at a deemed price of 11 cents per share to former shareholders of Bethlehem.

Board of directors

In connection with the qualifying transaction and effective immediately, Adrian Allister Smith was appointed as an additional director of the company. The board of directors now consists of four members, and they are Brett Matich, Sean Mcgrath, Joel Schuster and Mr. Smith.

For further details on the company's directors and officers, please see the filing statement (a copy of which is available at SEDAR).

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