55 North Mining Inc. Announces Non-Brokered Private Placement Financing

Executive Summary

• 55 North Mining Inc. announced a non‑brokered private placement of up to 12 million common shares at $0.50 per share, targeting gross proceeds of up to $6 million.
• The offering includes no warrant component and has received price protection from the CSE at the same $0.50 per share price.
• Proceeds are earmarked to fund the start of a drilling program on the Last Hope Gold Project and for general working capital and corporate overhead.

Key Details

• Offering Size: Up to 12,000,000 common shares.
• Price Per Share: $0.50 (price protection secured from CSE).
• Gross Proceeds Target: Up to $6,000,000.
• Closing Date: Expected on or about October 15, 2025, subject to customary conditions and regulatory approvals.
• Current Shares Outstanding: Approximately 24.5 million common shares.
• Post‑Offering Dilution: If fully subscribed, total shares outstanding would rise to roughly 36.5 million.
• Use of Proceeds:
• Commencement of a drilling program on the Last Hope Gold Project (Manitoba).
• General working capital and corporate overhead.
• No Warrants: The placement does not include any warrant component.

Notable Quotes

(None provided in the release.)