Sixty North GOLD Announces Repricing and Increase of Unit Offering
SIXTY NORTH GOLD ANNOUNCES REPRICING AND
INCREASE OF UNIT OFFERING
VANCOUVER, British Columbia -- (Newsfile Corp. – October 27, 2022) Sixty North Gold
Mining Ltd. (CSE: SXTY, FKT: 2F4, OTC-Pink: SXNTF) (the “Company” or “Sixty North
Gold”) announces that further to its press release dated September 26, 2022
announcing a non-brokered private placement of units (the " Units") to raise up to
$500,000 in gross proceeds (the “Offering”), it has reduced the offering price from
$0.28 to $0.20 per Unit, and therefore the size of the Offering has been increased to up
to 2,500,000 Units.
Each Unit will now consist of one (1) common share of the Company and one (1) non-
transferable share purchase warrant (the "Warrants"). Each Warrant will be exercisable
to acquire one additional common share at an exercise price of $0.30 per share for a
period of two (2) years from the date of closing of the Offering. The terms of the
Offering are subject to satisfactory notice to the Canadian Securities Exchange. The
Company may pay finder's fees in connection with this placement of 8.0% of the gross
proceeds raised, and Warrants to purchase common shares equal to 8.0% of the
number of Units subscribed to qualifying arm’s length finders.
The net proceeds from the Offering will be used for further exploration and development
of the Mon Gold Property, NWT, and the Company’s general working capital
requirements.
About the Company
The Company is developing mining operations for gold on the Mon Gold Property, 40
km north of Yellowknife, NWT. Past production extracted 15,000 tonnes of ore to depths
of only 15 m below surface, recovering an estimated 15,000 ounces of gold.
The Mon Gold Property consists of 11 contiguous mining leases and 3 mineral claims,
comprising an aggregate 1,537 acres, located in the South MacKenzie Mining District,
NWT. Eight additional Mineral Claims and one other Mining Lease are controlled under
option totaling 5,500 acres.
For more information, please refer to the Company’s Prospectus dated January 19, 2018
available on SEDAR (www.sedar.com), 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 Prospectus dated January 19, 2018 available on
SEDAR (www.sedar.com), under the Company’s profile.
THE CANADIAN SECURITIES EXCHANGE HAS NOT APPROVED NOR DISAPPROVED
THE CONTENT OF THIS PRESS RELEASE.
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S.
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