CALGARY, ALBERTA–(Marketwired – Jan. 27, 2016) – High North Resources Ltd. (TSX VENTURE:HN) (the “Company” or “High North“) announces that the Company’s principal secured lender, ATB Financial has served it with demands for the repayment of all indebtedness owed to it by High North, along with s. 244 Notices of Intention to Enforce Security pursuant to the Bankruptcy and Insolvency Act.
ATB Financial is applying to place the Company into Receivership and High North will be consenting to this application.
The Directors and management of the Company intend to resign immediately upon the appointment of the Receiver.