Vancouver, British Columbia--(Newsfile Corp. - November 21, 2018) - Sixty North Gold Mining Ltd. (CSE: SXTY, Frankfurt: 2F4, OTCQB: SXNTF) ("Sixty North" or the "Company") announces that further to its press release dated October 22, 2018 with respect to its offering up to 7,692,308 flow-through shares (the "FT Shares") by way of private placement with Mackie Research Capital Corporation (the "Agent") as lead agent and sole book runner, and in view of the current market price for its common shares, Sixty North has renegotiated the FT Share offering price with the Agent from $0.13 per FT Share to $0.10 per FT Share, thereby increasing the allotment of FT Shares up to 10,000,000. In addition, each subscriber of a FT Share will receive one-half (1/2) of a share purchase warrant for every FT Share purchased (collectively, an "FT Unit").
Each whole warrant comprising the FT Units will be non-transferable and will entitle the holder to purchase one (1) additional non flow-through common share, exercisable at a price of $0.15 per share for a period of two (2) years from the closing date of the private placement (the "Closing Date"). In the event that the common shares of the Company trade at a closing price greater than $0.30 per share for a period of 10 consecutive trading days, then the Company may deliver a notice to the warrant holders that they must exercise their warrants within the next 30 days, or the warrants will expire.
All other terms of the private placement as announced on October 22 remain the same. The Agent still has the option to increase the size of the financing by up to another 15% for over-allotments, by written notice to the Company at any time at least 48 hours prior to the Closing Date.
About the Company
The Company is engaged in acquisition, exploration and development of mineral properties. Its principal target is the exploration for gold on the Mon Gold Property, 40 km north of Yellowknife, NWT. The Mon Gold Property consists of 11 contiguous mining leases and 3 mineral claims, comprising an aggregate 1,536.92 acres, located in the South MacKenzie Mining District, NWT. For more information, please refer to the Company's Prospectus dated January 19, 2018 available on SEDAR (www.sedar.com), under the Company's profile.
ON BEHALF OF THE BOARD OF DIRECTORS
Chairman, Chief Financial Officer and Director
For further information, please contact:
John Campbell, 604-961-0175