--- title: "55 North Mining Announces Flow-Through Financing" type: "News" locale: "en" url: "https://longbridge.com/en/news/274870541.md" description: "55 North Mining Inc. has announced a non-brokered flow-through private placement, intending to issue 1,596,000 flow-through common shares at $0.745 each, aiming for gross proceeds of approximately $1,189,020. The placement is expected to close around February 26, 2026, subject to regulatory approvals. Proceeds will fund eligible Canadian exploration expenses for the Last Hope Gold Project, where drilling activities are currently underway. No warrants will be issued, and all securities will be subject to a four-month hold period." datetime: "2026-02-04T21:25:50.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/274870541.md) - [en](https://longbridge.com/en/news/274870541.md) - [zh-HK](https://longbridge.com/zh-HK/news/274870541.md) generator: "portal-rs" --- # 55 North Mining Announces Flow-Through Financing **TORONTO, ON / ACCESS Newswire / February 4, 2026 /** **55 North Mining Inc.** (FSE:6YF) ("**55 North**" or the "**Company**") announces that it intends to complete a non-brokered flow-through private placement (the "Private Placement"). The Private Placement is expected to close on or about February 26, 2026, subject to customary closing conditions and regulatory approvals. The Company intends to issue 1,596,000 flow-through common shares (the "FT Shares") at a price of $0.745 per FT Share for aggregate gross proceeds of approximately $1,189,020. The FT Shares will entitle the holder to receive the tax benefits applicable to flow-through shares, in accordance with the provisions of the *Income Tax Act* (Canada). No warrants are being issued in connection with the Private Placement. All securities issued pursuant to the Private Placement will be subject to a four-month hold period. The gross proceeds raised from the Private Placement will be used to incur eligible Canadian exploration expenses that qualify as "flow-through mining expenditures" for purposes of the *Income Tax Act* (Canada), related to the exploration of the Company's Last Hope Gold Project. In addition, the Company confirms that exploration drilling activities are underway, with one drill rig currently operating on the Last Hope Gold Project. A more detailed operational update will be provided in a subsequent news release. **About 55 North Mining Inc.** 55 North Mining Inc. is a Canadian exploration and development company advancing its high-grade Last Hope Gold Project located in Manitoba, Canada. **FOR FURTHER INFORMATION, PLEASE CONTACT:** - Mr. Bruce ReidChief Executive Officer55 North Mining Inc.Phone: 647-500-4495bruce@mine2capital.ca - Mr. Vance LoeberCorporate DevelopmentPhone: 778-999-3530cvl@tydewell.com **CAUTION REGARDING FORWARD-LOOKING INFORMATION** This news release of 55 North contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. **SOURCE:** 55 North Mining Inc View the original press release on ACCESS Newswire ### Related Stocks - [MMI.AU](https://longbridge.com/en/quote/MMI.AU.md) - [NSM.AU](https://longbridge.com/en/quote/NSM.AU.md) - [NMI.AU](https://longbridge.com/en/quote/NMI.AU.md) ## Related News & Research - [MMI: Record Q2 shipments and productivity gains offset margin pressure from lower prices and higher costs](https://longbridge.com/en/news/294275978.md) - [Metro Mining Limited (MMI) Receives a Buy from Ord Minnett](https://longbridge.com/en/news/294437893.md) - [Metro Mining Updates Director’s Equity Interests After Share Consolidation](https://longbridge.com/en/news/285176774.md) - [Shaw and Partners Remains a Buy on Metro Mining Limited (MMI)](https://longbridge.com/en/news/289559676.md) - [Metro Mining Schedules Shareholder Webinar on March Quarter Performance](https://longbridge.com/en/news/284179638.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**