Northwire Canada EditionWednesday, November 11, 2026
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Gold 4,000.50 −0.7% Silver 52.00 +1.5% Copper 6.29 +0.9% Oil 86.53 +0.6% Palladium 1,046.10 +2.5% VOXR 6.78 −0.6% TLO 7.04 −1.0% NICU 1.95 −5.8% VTEN 0.440 +0.0% AWM 0.025 +0.0% OR 50.79 −1.8% AUXX 5.30 −5.5% TNR 0.420 +40.0% ORCL 0.030 +0.0% ELD 47.71 −5.4% OPW 0.140 −6.7% CDE 21.43 −1.2% AEM 265.03 −2.0% WDO 27.75 −2.0% BEA 0.090 +0.0% GAU 3.41 −4.2% Gold 4,000.50 −0.7% Silver 52.00 +1.5% Copper 6.29 +0.9% Oil 86.53 +0.6% Palladium 1,046.10 +2.5% VOXR 6.78 −0.6% TLO 7.04 −1.0% NICU 1.95 −5.8% VTEN 0.440 +0.0% AWM 0.025 +0.0% OR 50.79 −1.8% AUXX 5.30 −5.5% TNR 0.420 +40.0% ORCL 0.030 +0.0% ELD 47.71 −5.4% OPW 0.140 −6.7% CDE 21.43 −1.2% AEM 265.03 −2.0% WDO 27.75 −2.0% BEA 0.090 +0.0% GAU 3.41 −4.2%
Financings

55 North Mining Announces Flow-Through Financing

FFF · Price

Executive Summary

  • 55 North Mining Inc. announced a non‑brokered flow‑through private placement of 1,596,000 common shares at $0.745 per share, targeting gross proceeds of approximately $1.19 million.
  • Proceeds will be used to fund eligible Canadian exploration expenses for the Last Hope Gold Project in Manitoba.
  • The company confirmed that drilling activities are currently underway on the project, with a detailed operational update to follow.

Key Details

  • Placement Size: 1,596,000 flow‑through common shares (“FT Shares”).
  • Price per Share: $0.745 CAD.
  • Aggregate Gross Proceeds: Approximately $1,189,020 CAD.
  • Closing Date: Expected on or about February 26, 2026, subject to customary conditions and regulatory approvals.
  • Hold Period: All securities issued will be subject to a four‑month hold period.
  • Warrants: No warrants are being issued in connection with the private placement.
  • Use of Proceeds: To incur eligible Canadian exploration expenses that qualify as “flow‑through mining expenditures” under the Income Tax Act (Canada) for the Last Hope Gold Project.
  • Exploration Update: One drill rig is currently operating on the Last Hope Gold Project; a more detailed operational update will be provided in a subsequent news release.

Notable Quotes

  • “The proceeds from this financing will enable us to advance our high‑grade Last Hope Gold Project and continue drilling activities that are critical to unlocking value for our shareholders.” – Bruce Reid, Chief Executive Officer, 55 North Mining Inc.
Read the original news release →

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