The flow-through financing will consist of up to 5,000,000 units ('FT Units') priced at
All common shares issued in connection with the financing will be subject to a statutory hold period of four months plus a day from the date of issuance. The Company will pay a finder's fee, to eligible finders, equal to 7% of the gross amount of the subscription, and compensation warrants equal to 7% of the aggregate number of shares. Each compensation warrant will entitle the holder to purchase one common share of the Company at a price of
The proceeds from the sale of the FT Units will be used for expenditures which qualify as Canadian Exploration Expenses ('CEE') within the meaning of the Income Tax Act (
About 55
Contact:
Mr.
Email: br@55northmining.com
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.
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