TORONTO, ON / ACCESS Newswire / December 5, 2025 / 55 North Mining Inc. (CSE:FFF)(FSE:6YF) ("55 North" or the "Company") is pleased to announce that it has closed the final tranche of its previously announced non-brokered private placement financing (the "Offering") for gross proceeds of $200,000.
The third tranche comprises the issuance of 400,000 common shares at a price of $0.50 per share. No finder's shares or finder's warrants were issued in connection with this tranche. All Common Shares issued in connection with the Offering will be subject to a statutory hold period of four months plus a day from the date of issuance.
With the completion of this third tranche, 55 North has now raised a total of $4,202,000 under the Offering. Proceeds will continue to be used to fund property payments, advance drilling at the Last Hope Gold Project, and support general working capital and corporate overhead.
Following the closing of this third tranche, the Company will have approximately 33.25 million common shares issued and outstanding.
"With gold prices remaining strong, we are seeing continued interest from both new and existing shareholders," said Bruce Reid, CEO of 55 North Mining. "The support we've received across all tranches reflects growing recognition of the potential scale and grade of the Last Hope system. This additional capital further positions us to advance drilling and deliver meaningful progress going into 2026."
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 Chief Executive Officer 55 North Mining Inc. Phone: 647-500-4495 bruce@mine2capital.ca | Mr. Vance Loeber Corporate Development Phone: 778-999-3530 cvl@tydewell.com |
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-completion-of-third-and-final-tranche-of-private-p-1115102
