55 North Mining Inc. Announces Share Consolidation

Announcement of Share Consolidation

55 North Mining Inc., listed on the Canadian Securities Exchange as CSE:FFF and on the Frankfurt Stock Exchange under FSE:6YF, has revealed its plans for a consolidation of its issued common shares. Pending regulatory approval, the consolidation will occur at a rate of twelve and one-half (12.5) existing shares for each new share.

Impact of the Consolidation

Following this action, the total number of outstanding shares is expected to decrease significantly from approximately 306.8 million to about 24.5 million after the consolidation. This consolidation process will take effect on October 3, 2025, coinciding with the Record Date, and the new shares are anticipated to commence trading around that date.

No fractional shares will be distributed as a result of the consolidation; instead, any resulting fractional interest will be rounded up to the nearest whole share.

Adjustment of Stock Options and Warrants

In addition to the shared consolidation, the company will also adjust its outstanding stock options and warrants on the same 12.5:1 basis, ensuring that the exercise prices are proportionately updated. This measure is intended to maintain equity among shareholders during the transition.

Shareholder Instructions

For registered shareholders, a letter of transmittal has been sent, providing clear instructions on exchanging share certificates. Non-registered shareholders who hold shares through brokers will have their accounts adjusted automatically to reflect the changes.

Company Background

55 North Mining Inc. focuses on the exploration and development of mining properties, particularly the high-grade Last Hope Gold Project located in Manitoba, Canada. The consolidation steps are viewed as part of the company’s broader strategic efforts to enhance its market presence and support future growth initiatives.

Key Takeaways

55 North Mining Inc. plans a 12.5:1 share consolidation pending regulatory approval.

The total shares outstanding will reduce from around 306.8 million to approximately 24.5 million after consolidation.

No fractional shares will be issued; fractions will be rounded up to whole shares.

Adjustments will be made to outstanding stock options and warrants on the same basis.

The consolidation is set to take effect on October 3, 2025.