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55 North Mining Inc. Announces Completion of Option Agreement Amendment for Last Hope Gold Project, Units-for-Debt Settlement and Closing of the Second Tranche of the Previously Announced Non-Brokered Private Placement Unit Financing

55 North Mining Inc. Announces Completion of Option Agreement Amendment for Last Hope Gold Project, Units-for-Debt Settlement and Closing of the Second Tranche of the Previously Announced Non-Brokered Private Placement Unit Financing

55 North Mining Inc. 宣佈完成 Last Hope Gold Project 的期權協議修正案,以單位換債務結算並完成先前宣佈的第二批非經紀私募單位融資
Accesswire ·  2022/10/06 19:20

TORONTO, ON / ACCESSWIRE / October 6, 2022 / 55 North Mining Inc. ("55 North" or the "Company") is pleased to report that pursuant to the amended option agreement previously announced on September 6, 2022, the Company has made a payment of $200,000 as well issued 5,000,000 common shares of 55 North Mining Inc. to the Optionor.

安大略省多倫多/ACCESSWIRE/2022年10月6日/55 North Mining Inc. (”5 North“或者”公司“) 很高興地向大家報告,根據先前於2022年9月6日宣佈的經修訂的期權協議,該公司已支付20萬美元,並向期權人發行了55 North Mining Inc.的500萬股普通股。

The board of directors also approved the settlement of $110,000 of debt through the issuance of Units (the "Debt Settlement"). Pursuant to the Debt Settlement, the Company issued 5,083,032 Units of the Company at a price of $0.02 per Unit to certain creditors of the Company, including a director and an officer (the "Creditors"). All Units consist of one common share (a "Share") and one common share purchase warrant (a "Warrant"), exercisable at $0.05 for a period of forty-eight (48) months.

董事會還批准通過發行單位來清償11萬美元的債務(”債務清算“)。根據債務和解協議,公司以每單位0.02美元的價格向公司的某些債權人發行了5,083,032股公司股份,包括一名董事和一名高級管理人員(”債權人“)。所有單位由一股普通股組成 (a”分享“) 和一份普通股購買權證 (a”搜查令“),可在四十八(48)個月內以0.05美元的價格行使。

55 North Mining Inc. also announces closing of the second tranche of the non-brokered private placement unit financing announced on August 29, 2022 in the sum of $240,000.

55 North Mining Inc.還宣佈結束2022年8月29日宣佈的第二批非經紀私募股融資,總額爲24萬美元。

All securities issued will be subject to a four month hold period which will expire on the date that is four months and one day from the date of issue.

所有發行的證券都將有四個月的持有期,該持有期將於發行之日起四個月零一天到期。

The proceeds will be used for debt reduction and for general working capital purposes.

所得款項將用於減免債務和一般營運資金用途。

As certain insiders participated in the Debt Settlement, it is considered to be a "related party transaction" under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). All of the independent directors of the Company, acting in good faith, considered the transactions and have determined that the fair market value of the securities being issued to insiders and the consideration being paid is reasonable. The Company intends to rely on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and (b) and 5.7(b) of MI 61-101.

由於某些內部人士參與了債務清算,因此根據61-101號多邊文書,這被視爲 “關聯方交易”- 在特殊交易中保護少數證券持有人 (”MI 61-101“)。公司的所有獨立董事本着誠意行事,考慮了這些交易,並確定向內部人士發行的證券的公允市場價值和支付的對價是合理的。公司打算依賴MI 61-101第5.5 (a) 和 (b) 節以及5.7 (b) 節中所載的MI 61-101估值和少數股東批准要求的豁免。

About 55 North Mining Inc.

大約 55 北方礦業公司

55 North Mining Inc. is an exploration and development company advancing its high-grade Last Hope Gold Project located in Manitoba, Canada.

55 North Mining Inc. 是一家勘探和開發公司,正在推進其位於加拿大曼尼托巴省的高品質 Last Hope 黃金項目。

FOR FURTHER INFORMATION, PLEASE CONTACT:

欲了解更多信息,請聯繫:

Mr. Bruce Reid
Chief Executive Officer, Director
55 North Mining Inc.
br@55northmining.com

布魯斯·裏德先生
首席執行官兼董事
55 北方礦業公司
br@55northmining.com

CAUTION REGARDING FORWARD-LOOKING INFORMATION

謹慎對待前瞻性信息

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.

55 North的這份新聞稿包含構成 “前瞻性陳述” 的陳述。此類前瞻性陳述涉及已知和未知的風險、不確定性和其他因素,這些因素可能導致公司的實際業績、業績或成就或該行業的發展與此類前瞻性陳述所表達或暗示的預期業績、業績或成就存在重大差異。

SOURCE: 55 North Mining Inc.

來源: 55 北方礦業公司


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