Magnetic North Acquisition ( (TSE:MNC) ) has issued an announcement.
Magnetic North Acquisition Corp. has announced an extension for its non-brokered private placement of Series A Preferred Shares, targeting gross proceeds of up to US$11 million or CAD$15.4 million. The company plans to use the net proceeds for investment activities and general corporate purposes, with the offering now expected to close by February 28, 2025. The completion of this offering is conditional upon receiving subscription funds and final acceptance from the TSX Venture Exchange. Upon completion, the new shares will constitute approximately 53.3% of the outstanding Preferred Shares.
More about Magnetic North Acquisition
Magnetic North Acquisition Corp. is involved in investing and managing businesses to support shareholder success. With offices in Calgary and Toronto, the company leverages its management, operations, and capital markets expertise to enhance the performance of its investee companies. Its common and preferred shares are traded on the TSX Venture Exchange under the symbols MNC and MNC.PR.A, respectively.
YTD Price Performance: 2.50%
Average Trading Volume: 2,490
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $5.38M
Learn more about MNC stock on TipRanks’ Stock Analysis page.