Sixty North GOLD Announces Closing of Second and Final Tranche of Non-Brokered Unit Offering
SIXTY NORTH GOLD ANNOUNCES CLOSING OF SECOND AND FINAL TRANCHE
OF NON-BROKERED UNIT OFFERING
VANCOUVER, British Columbia -- (Newsfile Corp. – APRIL 2, 2025) Sixty North Gold
Mining Ltd. (CSE: SXTY, FKT: 2F40, OTC-Pink: SXNTF) (the “Company” or “Sixty
North Gold”) is pleased to report that further to its news releases of March 18th a n d
March 21 2025, the Company has closed the second and final tranche of 1,737,500
units (the “Units”) at an offering price of $0.0825 to raise additional gross proceeds of
$143,343.75 (the “Second Closing”).
Each Unit consists of one (1) common share (the “Share”) of the Company and one (1)
non-transferable share purchase warrant (a “Warrant”). Each Warrant will entitle the
holder to purchase one additional Share of the Company at a price of $0.11 per Share
for a period of eighteen (18) months; provided that if the closing market price of the
Issuer's Shares on the Canadian Securities Exchange (“CSE”) is greater than $0.18 per
Share for a period of ten (10) consecutive trading days, the Company may deliver a
notice (the “Notice”) to the holders of Warrants that the Warrants will expire at 4 p.m.
Vancouver time on the date that is thirty (30) days from the date of delivery of such
Notice.
The securities for the second tranche of the Offering will bear a legend restricting resale
until August 3, 2025. Finders' fees of $1,485 in cash and 18,000 non-transferable
finders’ warrants on the same terms as the Warrants were paid to a finder under the
offering pursuant to the policies of the CSE. The total net proceeds raised from the two
tranches was $242,094.75
The proceeds from the Offering will be used for further exploration and development of
the Mon Gold Property located in NWT, and for the Company’s general working capital
requirements.
About the Company
The Company is developing mining operations for gold on its 100%-owned Mon Gold
Property, 40 km north of Yellowknife, NWT. Past production of the A Zone extracted
15,000 tonnes at 30 gpt gold from this vein (Company Technical Report, August 3,
2023, on SEDAR or https://sixtynorthgold.com/projects/technical-report/. The
Yellowknife gold camp hosts two mines that averaged 30 gpt gold or better (Discovery
and Sixty North Gold’s Mon Mine), and two that averaged 15 gpt or better for a total
production of over 14 million ounces of gold (Con Min and Giant Mine) (ref. Sixty North
Gold NI 43-101, August, 2023).
The property also hosts an outcropping precious-metals-rich VMS (volcanogenic
massive sulphide) showing, and has four modelled geophysical targets along strike
within felsic tuffs, lithic and lapilli tuffs. The Company plans to drill these targets with this
funding.
For more information, please refer to the Company’s public filings available on SEDAR
(www.sedarplus.ca), under the Company’s profile.
ON BEHALF OF THE BOARD OF DIRECTORS
“Dave Webb”
Dave Webb, President & CEO
For further information, please contact:
Dave Webb
Tel.: 604 818-1400
Email: [email protected]
Website: www.sixtynorthgold.com
Statements about the Company's future expectations and all other statements in this press
release other than historical facts are "forward looking statements". Such forward-looking
statements are based on numerous assumptions, and involve known and unknown risks,
uncertainties and other factors, including risks inherent in mineral exploration and
development, which may cause the actual results, performance, or achievements of the
Company to be materially different from any projected future results, performance, or
achievements expressed or implied by such forward-looking statements. Further details
about the risks applicable to the Company are contained in the Company’s public filings
available on SEDAR (www.sedarplus.ca), under the Company’s profile.
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THE CANADIAN SECURITIES EXCHANGE HAS NOT APPROVED NOR
DISAPPROVED THE CONTENT OF THIS PRESS RELEASE.