TORONTO, ON / ACCESS Newswire / November 5, 2025 / Mr. Bruce Reid announces that as a result of the increase in the issued and outstanding shares of 55 North Mining Inc. ("55 North" or the "Issuer") due to the closing of non-brokered private placements event by the Issuer, Mr. Reid no longer holds over 10% of the issued and outstanding shares of the Issuer.
Prior to the events, Mr. Reid owned 2,379,058 common shares, 854,643 warrants and 160,000 stock options of the Issuer on a post-consolidation basis (12.5:1 consolidation), representing 18.93% of the issued and outstanding shares of the Issuer and 24.99% of all issued and outstanding shares of the Issuer on a partially diluted basis.
As a result of the events, Mr. Reid continues to own 2,379,058 common shares and 160,000 stock options; and following the expiration of 160,000 warrants, Mr. Reid continues to hold 694,643 remaining warrants representing 7.43% of all issued and outstanding shares of the Issuer and 9.84% of all issued and outstanding shares of the Issuer on a partially diluted basis as at November 4, 2025.
Mr. Reid continues to hold the securities for investment purposes only. Mr. Reid may, in the future, participate in financings and/or acquire or dispose of securities of the Issuer in the market, privately or otherwise, subject to a number of factors, including general market conditions and other available investment and business opportunities.
The disclosure respecting Mr. Reid's shareholdings in this press release is made pursuant to National Instrument 62-104. A report respecting the above acquisition will be filed with the applicable securities commissions using the Canadian System for Electronic Document Analysis and Retrieval (SEDAR+). It will be available for viewing at www.sedarplus.com under the Issuer's profile.
For further information, please contact:
Bruce Reid
c/o 372 Bay Street, Suite 1800
Toronto, Ontario M5H 2W9
Phone: 647-500-4495
SOURCE: Mr. Bruce Reid
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/metals-and-mining/dilution-of-bruce-reid-shareholdings-in-55-north-mining-inc-1097493