55 North closes $415,000 second tranche of placement

Nov 18, 2025

2025-11-18 04:15 ET – News Release

Mr. Bruce Reid reports

55 NORTH MINING ANNOUNCES CLOSING OF SECOND TRANCHE OF NON-BROKERED PRIVATE PLACEMENT FINANCING

55 North Mining Inc. has closed the second tranche of its previously announced non-brokered private placement financing for gross proceeds of $415,000.

As noted in the company’s press release dated Oct. 30, 2025, the initial tranche raised gross proceeds of $3,587,000. The second tranche comprises the issuance of 830,000 common shares at a price of 50 cents per share for total proceeds of $415,000. No finders’ shares or finders’ warrants were issued in connection with this tranche. Including both tranches, the company has raised $4,002,000 under the offering to date. Proceeds from the offering will continue to be used to finance property payments and the commencement of drilling programs and for general working capital and corporate overhead. The company may complete one or more additional closings of the offering in the near term, subject to customary conditions. Following the closing of this second tranche, the company will have approximately 32.83 million common shares issued and outstanding.

“We continue to see strong interest in the financing from both new and existing shareholders,” said Bruce Reid, chief executive officer of 55 North Mining. “This second tranche further strengthens our balance sheet as we prepare to begin drilling at Last Hope. We expect continued investor participation as we work toward completing the final tranche of the offering.”

About 55 North Mining Inc.

55 North is a Canadian exploration and development company advancing its high-grade Last Hope gold project located in Manitoba, Canada.

We seek Safe Harbor.

https://55northmining.ca/