TORONTO, October 10, 2025 - 55 North Mining Inc. (CSE:FFF)(FSE:6YF) ("55 North" or the "Company") is pleased to announce that it intends to complete a non-brokered private placement financing (the "Offering") of up to 12,000,000 common shares of the Company at a price of $0.50 per share, for gross proceeds of up to $6,000,000.
The Offering will not include any warrant component. The Company has obtained price protection from the Canadian Securities Exchange ("CSE") for the Offering at $0.50 per share. 55 North Mining intends to close the Offering on or about October 15, 2025, subject to customary closing conditions and receipt of all required approvals, including from the CSE.
Use of Proceeds
Proceeds from the Offering will be used to fund the commencement of a drilling program, and for general working capital and corporate overhead.
The Company currently has approximately 24.5 million common shares issued and outstanding. Upon completion of the Offering, and assuming the maximum 12,000,000 shares are issued, the Company would have approximately 36.5 million common shares outstanding.
About 55 North Mining Inc.
55 North Mining Inc. is a Canadian exploration and development company advancing its high-grade Last Hope Gold Project located in Manitoba, Canada.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Mr. Bruce Reid Chief Executive Officer, Director 55 North Mining Inc. Phone: 647-500-4495 bruce@mine2capital.ca
Mr. Vance Loeber Corporate Development Phone: 778-999-3530 cvl@tydewell.com
CAUTION REGARDING FORWARD-LOOKING INFORMATION
This news release of 55 North contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.
SOURCE: 55 North Mining Inc
View the original press release on ACCESS Newswire
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