17 April 2024
Vancouver, British Columbia--(Newsfile Corp. - April 17, 2024) - Sixty North Gold Mining Ltd. (CSE: SXTY) (FSE: 2F40) (OTC PINK: SXNTF) (the "Company" or "Sixty North Gold").
Sixty North Gold proposes to complete a non-brokered private placement of up to 13,800,000 units (the "Units") at an offering price of $0.05 per Unit, to raise gross proceeds of up to $690,000 (the "Offering"). Each Unit will consist of one (1) common share of the Company and one (1) non-transferable share purchase warrant (the "Warrants"). Each Warrant will be exercisable to acquire one additional common share at an exercise price of $0.08 per share for a period of one (1) year from the date of closing of the Offering, provided that if the closing market price for the Issuer's common shares on the Canadian Securities Exchange ("CSE") is greater than $0.16 per share for a period of ten (10) consecutive trading days, then the Company may deliver a notice (the "Notice") to the Purchaser notifying such Purchaser that the Warrants must be exercised within thirty (30) days from the date of delivery of such Notice, otherwise the Warrants will expire at 4:00 p.m. (Vancouver time) on the thirty-first (31st) day after the date of delivery of the Notice. The terms of the Offering are subject to satisfactory notice to the Canadian Securities Exchange. The Company may pay finder's fees in connection with this placement of 10.0% of the gross proceeds raised by an arm's length finder.
The net proceeds from the Offering will be used to fund claim maintenance, continued exploration and development of the Company's properties, as well as general corporate purposes.
Dr. D.R. Webb Ph.D., P.Geol., P.Eng. is the QP within the meaning of NI 43-101 and is responsible for the technical details of this release.