TORONTO, ON / ACCESS Newswire / November 17, 2025 / 55 North Mining Inc. (CSE:FFF)(FSE:6YF) ("55 North" or the "Company") is pleased to announce that it has closed the second tranche of its previously announced non-brokered private placement financing (the "Offering") for gross proceeds of $415,000.
As noted in the Company's press release dated October 30, 2025, the initial tranche raised gross proceeds of $3,587,000. The second tranche comprises the issuance of 830,000 common shares at a price of $0.50 per share, for total proceeds of $415,000. No finder's shares or finder's warrants were issued in connection with this tranche. Including both tranches, the Company has now raised $4,002,000 under the Offering to date. Proceeds from the Offering will continue to be used to fund property payments, the commencement of drilling programs, and for general working capital and corporate overhead. The Company may complete one or more additional closings of the Offering in the near term, subject to customary conditions. Following the closing of this second tranche, the Company will have approximately 32.83 million common shares issued and outstanding.
"We continue to see strong interest in the financing from both new and existing shareholders," said Bruce Reid, CEO of 55 North Mining. "This second tranche further strengthens our balance sheet as we prepare to begin drilling at Last Hope. We expect continued investor participation as we work toward completing the final tranche of the Offering."
About 55 North Mining Inc.
55 North Mining Inc. is a Canadian exploration and development company advancing its high-grade Last Hope Gold Project located in Manitoba, Canada.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Mr. Bruce Reid | Mr. Vance Loeber |
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-announces-closing-of-second-tranche-of-non-brokered-private-place-1103350