Sixty North Gold Announces Closing of Second and Final Tranche of Unit Offering

Executive Summary

• Sixty North Gold Mining Ltd. closed the second and final tranche of its unit offering, issuing 833,333 units for gross proceeds of $50,000.
• Total gross proceeds from both tranches now total $307,100.
• 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: 833,333 units at $0.06 per unit (each unit = 1 share + ½ common share purchase warrant).
• Gross Proceeds – Final Tranche: $50,000.
• Cumulative Gross Proceeds (both tranches): $307,100.
• Warrant Terms: Each whole warrant exercisable at $0.10 per share for 12 months from closing; if the market price exceeds $0.15 for ten consecutive trading days, the company may issue a notice requiring exercise within 30 days.
• Resale Restriction: Securities bear a legend restricting resale until February 25, 2026.
• Finder’s Fees: No finder’s fees were paid on this tranche.
• Use of Proceeds: Exploration and development of the Mon Gold Property (NWT) and general working capital.

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

Materiality Assessment: Material – Positive (the financing provides new capital to advance a primary gold project, representing a materially positive development for the company).