TORONTO, ON / ACCESS Newswire / September 29, 2025 / 55 North Mining Inc. (CSE:FFF)(FSE:6YF) ("55 North" or the "Company") announces that, subject to regulatory approval, it intends to effect a consolidation of the Company's issued and outstanding common shares (the "Shares") on the basis of twelve and one-half (12.5) existing Shares for one (1) new Share (the "Consolidation").
The Company currently has 306,846,234 Shares issued and outstanding on a pre-consolidation basis. Following the proposed Consolidation, the Company will have approximately 24,547,698 Shares issued and outstanding, on a post-consolidation basis, subject to rounding.
No fractional Shares will be issued as a result of the Consolidation. Any fractional interest in Shares resulting from the Consolidation will be rounded up to the nearest whole Share.
The Company's outstanding incentive stock options and warrants will be adjusted on the same 12.5:1 basis to reflect the Consolidation, with proportionate adjustments made to the exercise prices.
The record date for the Consolidation (the "Record Date") will be October 3, 2025, subject to the approval of the Canadian Securities Exchange (the "CSE"). The Consolidation will be effective on the Record Date, and the post-Consolidation Shares are expected to begin trading on the CSE on or around the same date. The Company has obtained a new CUSIP (31680F405) and ISIN (CA31680F4050) in connection with the Consolidation.
The Company's name and trading symbols will remain unchanged.
Registered shareholders on record as of August 1, 2025, received a letter of transmittal along with shareholder meeting materials, which were mailed on August 15, 2025. The letter of transmittal provides shareholder with instructions on how to exchange their share certificates. Non-registered shareholders holding shares through a brokerage account will have their positions adjusted automatically.
About 55 North Mining Inc.
55 North Mining Inc. is an exploration and development company advancing its high-grade Last Hope Gold Project located in Manitoba, Canada.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Mr. Bruce Reid
Chief Executive Officer, Director
bruce@mine2capital.ca
C: 647-500-4495
or
Mr. Vance Loeber
Corporate Development
cvl@tydewell.com
C: 778-999-3530
CAUTION REGARDING FORWARD-LOOKING INFORMATION
This news release of 55 North contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.
SOURCE: 55 North Mining Inc.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/metals-and-mining/55-north-mining-inc.-announces-consolidation-of-shares-1079536
