55 North announces $600,000 Financing and Shares-for-Debt Settlement
55 North Mining Inc. Announces $600,000 Financing and Shares-for-Debt Settlement
Toronto, Ontario – May 22, 2025 – 55 North Mining Inc. (CSE:FFF) (“55 North” or the “Company”) has announced a non-brokered private placement of Units of up to $600,000 (the “Offering”). Each Unit, priced at $0.01, is comprised of one common share and one common share purchase warrant entitling the holder to acquire one additional common share at a price of $0.01 per share for a period of 48 months from the date of issuance. All common shares issued in connection with the Offering will be subject to a statutory hold period of four months plus a day from the date of issuance. The gross proceeds from the sale of the Units will be used for general corporate purposes.
The Company also announces that it will complete a shares-for-debt settlement of up to $280,000, valued at $0.05, and $170,000, valued at $0.01, for a total of $444,093.90.
As well, 55 North announces that director Alka Singh has resigned from the 55 North Board of Directors to pursue other opportunities.
About 55 North Mining Inc.
55 North Mining Inc. is an 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.
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.