55 North Mining Inc. Announces Update to $600,000 Financing and Shares-for-Debt Settlement
55 North Mining Inc. Announces Update to $600,000 Financing and Shares-for-Debt
Settlement
Toronto, Ontario – May 28, 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 (the “Common
Shares”) and one common share purchase warrant (the “Warrants”) 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 Corporation may
pay a finder’s fee or commission up to 8% in cash on eligible subscriptions. The gross proceeds
from the sale of the Units will be used for general corporate purposes. The Warrants are
exercisable only where the minimum exer cise price becomes $0.05 per Common
Share. Shareholders had previously approved a share consolidation on a 15:1 basis on
November 18, 2024.
The Company has also announced it has completed its shares for debt settlement of up to
$275,380 valued at $0.05 and $168,713.9 valued at $0.01, for a total of $444,093.90.
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.