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TORONTO, Nov. 16, 2018 (GLOBE NEWSWIRE) — 55 North Mining Inc. (TSXV:FFF) (“55 North” or the “Company”)(formerly named SGX Resources Inc.) announces that it has closed a non-brokered private placement offering of 3.7 million Units of the Company at $0.06 per Unit for gross proceeds of $222,000 on November 15, 2018 (the “Offering“).
Each Unit is comprised of one flow through common share and one non-flow-through purchase warrant entitling the holder to acquire one additional common share at a price of $0.07 per share for 24 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 proceeds from the private placement will be used to advance the Company’s Canadian mining projects, and for general working capital purposes.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Mr. Bruce Reid
Chief Executive Officer, Director
55 North Mining Inc.
The TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) does not accept responsibility for the adequacy or accuracy of this release.
CAUTION REGARDING FORWARD-LOOKING INFORMATION
This news release of 55 North Mining Inc. 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.