Sixty North Gold Announces Closing of First Tranche of Unit Offering

Executive Summary

• Sixty North Gold closed the first tranche of its private placement, issuing 6,095,400 units for gross proceeds of $670,494.
• Each unit consists of one common share and one warrant exercisable at $0.15 per share for 24 months; finder's fees of $14,039.52 cash plus 127,632 warrants were paid.
• Net proceeds are earmarked for exploration and development of the Mon Gold Property (NWT) and general working capital; a second tranche is expected to close shortly.

Key Details

• Units Issued: 6,095,400 units (each = 1 common share + 1 warrant).
• Gross Proceeds: $670,494.
• Warrant Terms: Exercise price $0.15 per share; term of 24 months from closing date.
• Legend Restriction: Securities may not be resold until March 7 2026.
• Finder’s Fees Paid: $14,039.52 in cash and 127,632 finder's warrants (same terms as other warrants).
• Use of Proceeds: Primarily for further exploration & development of the Mon Gold Property and general working capital.
• Related Party Participation: CEO/Director David Webb subscribed for 1,000,000 units (~1.6% of diluted shares). Post‑offering, Webb controls 16,077,790 shares (26.8% of issued shares) and holds warrants to acquire an additional 1,300,000 shares, potentially raising his stake to 28.4% on a partially diluted basis.
• Regulatory Exemptions: The related‑party transaction relied on MI 61‑101 exemptions because the fair market value did not exceed 25 % of market capitalization.

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

All boilerplate, forward‑looking statements, and disclaimer text have been omitted.