THIS NEWS RELEASE IS NOT INTENDED FOR DISSEMINATION IN THE UNITED STATES OR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
TORONTO, Aug. 17, 2018 (GLOBE NEWSWIRE) — 55 North Mining Inc. (TSXV:FFF) (“55 North” or the “Company”) (formerly named SGX Resources Inc.) announces that further to its news release on July 4, 2018, it intends to seek approval from the TSX Venture Exchange to extend the deadline for filing final documentation for its non-brokered private placement for 30 days. The Company closed the first tranche of this private placement offering on July 4, 2018 for gross proceeds of $222,000 by the issuance of 3.7 million Units at a price of $0.06 per Unit.
Each Unit is comprised of one flow-through common share and one non-flow-through purchase warrant (“Warrant”) entitling the holder to acquire one additional common share at a price of $0.07 per share for 24 months.
The proceeds from the private placement will be used to advance the Company’s Canadian mining projects, and for general working capital purposes.
All of the securities issued in connection with the private placement offering are subject to a hold period expiring four months and one day after date of issuance.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Mr. Bruce Reid
Chief Executive Officer, Director
55 North Mining Inc.
[email protected]
or
Ms. Jennifer Boyle
Director
55 North Mining Inc.
[email protected]
416-904-2714
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 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.