- Magnetic North Acquisition Corp. (MNC) has announced a planned non-brokered private placement for gross proceeds of up to $1M
- The financing consists of up to 105,264 units at $9.50 per unit
- Each unit comprises one Series A Preferred Share and one Series A Preferred Share purchase warrant for gross proceeds of up to $1,000,008.00
- Each warrant will entitle the holder to purchase one additional Series A Preferred Share at a price of $10.00 per share
- The company also announces that it has completed its previous private placement offering of units which was announced on November 18, 2021
- Magnetic North Acquisition Corp. remained unchanged at $0.125 at 1:43 PM ET
Magnetic North Acquisition Corp. (MNC) has announced a non-brokered private placement for gross proceeds of approximately $1 million.
The financing consists of up to 105,264 units priced at $9.50 per unit.
Each unit comprises one Series A Preferred Share and one Series A Preferred Share purchase warrant for gross proceeds of up to $1,000,008.00.
Each warrant will entitle the holder to purchase one additional Series A Preferred Share at a price of $10.00 per share during the period ending on the fifth anniversary of the closing date of the financing.
The company also announces that it has completed its previous private placement offering of units. The company issued a total of 105,264 units at a price of $9.50 per unit for gross proceeds of $1,000,008.00.
The Series A Preferred Shares are listed on the TSXV and trade under the symbol “MNC.PR.A”. The warrants will not be listed on the TSXV.
The financing is subject to the acceptance of the TSXV.
Magnetic North invests and manages businesses on behalf of its shareholders and believes that capital alone does not always lead to success.
Magnetic North Acquisition Corp. (MNC) remained unchanged at $0.125 at 1:43 PM ET.