55 North Mining Announces Closing of First Tranche of Non-Brokered Private Placement Financing, Totalling $3,587,000.
55 North Mining Announces Closing of First Tranche of Its Non-Brokered Private
Placement Financing, Totalling $3,587,000.
Toronto, Ontario – October 30, 2025 – 55 North Mining Inc. (CSE:FFF) (FSE:6YF) (“55 North”
or the “Company”) is pleased to announce that it will close the first tranche of its previously
announced non-brokered private placement financing (the “Offering”) on October 30, 2025, for
gross proceeds of approximately $3,587,000.
As noted in the Company’s press release dated October 10, 2025, the Offering consists of up to
12,000,000 common shares at a price of $0.50 per share.
The first tranche comprises the issuance of 7,174,000 common shares at a price of $0.50 per
share, for total proceeds of $3,587,000. In connection with this tranche, the Company issued
300,240 common shares as finders’ compensation and 150,120 finders’ warrants, each
exercisable to acquire one common share at an exercise price of $0.50 for 24 months from
issuance to certain pre-approved finders.
Proceeds will be used to fund property payments, the commencement of drilling programs, and
for general working capital and corporate overhead. The Company expects to complete the
balance of the Offering in one or more additional closings in the near term, subject to customary
conditions. Following this closing, the Company will have approximately 32.0 million common
shares issued and outstanding.
“We are very pleased with the strong investor support for this financing,” said Bruce Reid, CEO
of 55 North Mining. “With this first tranche complete, the Company is well-positioned to commence
its winter drill program at Last Hope.”
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
55 North Mining Inc.
Phone: 647-500-4495
Mr. Vance Loeber
Corporate Development
Phone: 778-999-3530
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 ach ievements, or
developments in the industry to differ materially from the anticipated results, performance or
achievements expressed or implied by such forward-looking statements.