Sixty North Gold Announces Closing of First Tranche of Unit Offering

Executive Summary

• Sixty North Gold Mining Ltd. closed the first tranche of its financing, issuing 4,285,000 units for gross proceeds of $257,100.
• Each unit consists of one common share and half a warrant; warrants are exercisable at $0.10 per share for 12 months, with an accelerated exercise provision if the market price exceeds $0.15 for ten consecutive trading days.
• Net proceeds will be allocated to further exploration and development of the Mon Gold Property in the Northwest Territories and for general working capital.

Key Details

• Units Issued: 4,285,000 units at $0.06 per unit.
• Gross Proceeds: $257,100.
• Unit Composition: 1 common share + ½ common share purchase warrant.
• Warrant Terms: Exercise price $0.10; exercisable for 12 months from closing; accelerated exercise if share price > $0.15 for ten consecutive trading days (notice‑triggered 30‑day exercise window).
• Resale Restriction: Securities bear a legend prohibiting resale until February 23, 2026.
• Finder’s Fees Paid: $8,000 cash plus 133,333 finder’s warrants (identical terms to the issued warrants).
• Use of Proceeds: Exploration and development of the Mon Gold Property; general working capital.
• Future Plans: Company intends to close an additional tranche shortly.

Notable Quotes

• “The net proceeds from the Offering will be used for further exploration and development of the Mon Gold Property located in NWT, and for the Company's general working capital requirements.” – Dave Webb, President & CEO.