55 North Mining Inc. Completes Private Placement Raising $4.2 Million

On December 5, 2025, 55 North Mining Inc., a Canadian exploration company, announced the closing of the final tranche of its private placement. The third tranche added $200,000, through the issuance of 400,000 common shares priced at $0.50 each. This brings the total funds raised to $4,202,000.

The capital will be allocated to property payments, drilling at the Last Hope Gold Project in Manitoba, and general corporate expenses. The company's common shares will be under a four-month statutory hold from the issuance date. Following this tranche, 55 North has approximately 33.25 million outstanding shares.

CEO Bruce Reid highlighted the strong gold prices and the interest from shareholders, viewing the support as recognition of the Last Hope project's potential. The recent capital will further the company's drilling initiatives.