23 May 2024
VANCOUVER, BC, May 23, 2023 – Sixty North Gold Mining Ltd. (CSE: SXTY, “Sixty North Gold” or the “Company”) In connection with the closing of Sixty North Gold’s recently announced debt settlements, David R. Webb (“David”), the Company’s President, Chief Executive Officer and a director, and all persons acting jointly or in concert with David, have acquired, directly and indirectly, 1,000,000 common shares of the Company (the "Shares"), representing approximately 2.39% of the total issued shares of the Company on a partially diluted basis (assuming exercise of David’s Warrants and stock options only).
David, and all persons acting jointly or in concert with David, previously held 14,178,607 Shares, 8,875,000 Warrants and 805,000 incentive stock options, representing approximately 50.44% of the then issued and outstanding Shares of the Company on a partially diluted basis (assuming the exercise of David’s Warrants and stock options only). After the recent distribution described above, David now holds or has control or direction over a total of 15,178,607 Shares, 8,875,000 Warrants, and 805,000 stock options, representing approximately 48.25% of the total issued and outstanding Shares of the Company on a partially diluted basis (assuming the exercise of David’s Warrants and stock options only).
David intends to hold the Shares for investment purposes. Depending upon market conditions and other factors, David may from time to time acquire additional securities of the Company, dispose of some or all of the existing or additional securities David holds in the Company, or will hold, or may continue to hold its current position.