Sixty North announces second closing of non-brokered unit offering
24 November 2020
Sixty North Gold Mining Ltd. Further to the Company’s press releases on October 20, 2020 and October 29, 2020, Sixty North Gold is pleased to announce that it has completed a second closing of its non-brokered private placement by the issuance of 3,410,546 units (the “Units”) at $0.065 per Unit to raise gross proceeds of $221,685 (the “Second Closing”). The subscription proceeds of the Second Closing, when added to the proceeds from the First Closing, now total $377,509 in gross proceeds raised under this offering. Each Unit consisted of one (1) common share (a “Share”), and one (1) non-transferable share purchase warrant exercisable to purchase one (1) additional Share at an exercise price of $0.10 per Share until November 23, 2022. The securities issued under the Second Closing will bear legends restricting resale until March 24, 2021.
The net proceeds of the Second Closing will be used for further exploration and development of the Mon Gold Property, NWT, and the Company’s general working capital requirements, as previously disclosed.