CALGARY,
AB and TORONTO,
Oct. 11,
2024 /CNW/ - Magnetic North Acquisition Corp.
(TSXV: MNC) (TSXV: MNC.PR.A) ("Magnetic North" or
the "Company") announces that it has filed the following
continuous disclosure documents (collectively, the "Required
Filings"):
- audited annual financial statements for the year ended
December 31, 2023, management's
discussion and analysis relating to the audited annual financial
statements and related officer certifications for the year ended
December 31, 2023;
- interim financial statements for the period ended March 31, 2024, management's discussion and
analysis relating to the interim financial statements and related
officer certifications for the period ended March 31, 2024; and
- interim financial statements for the period ended June 30, 2024, management's discussion and
analysis relating to the interim financial statements and related
officer certifications for the period ended June 30, 2024.
The Company is currently subject to a cease trade order (the
"CTO") issued by the Alberta Securities Commission (the
"ASC") on July 12, 2024 as a
result of the Company's failure to file the Required Filings in
accordance with National Instruments 51-102 – Continuous
Disclosure Obligations. The Company has remedied the default
that led to the CTO by filing the Required Filings; copies are
available under the Company's SEDAR profile and on the Company's
website at www.magneticnac.com. It is expected that, as a result of
the filing of the Required Filings, the ASC, as the Company's
principal regulator, will revoke the CTO in accordance with
National Policy 11-207 – Failure-to-File Cease Trade Orders and
Revocations in Multiple Jurisdictions.
About Magnetic North Acquisition Corp.
Magnetic North invests and manages businesses on behalf of its
shareholders and believes that capital alone does not always lead
to success. With offices in Calgary and Toronto, our experienced management team
applies its considerable management, operations and capital markets
expertise to ensure its investee companies are as successful as
possible for shareholders. Magnetic North common shares and
preferred shares trade on the TSX Venture Exchange under the stock
symbol MNC and MNC.PR.A, respectively. Magnetic North is a TSX
Venture "2021 TSX Venture 50" recipient. For more information about
Magnetic North, visit its website at www.magneticnac.com. Magnetic
North's securities filings can also be accessed at
www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this news release.
CAUTIONARY STATEMENT REGARDING FORWARD LOOKING
INFORMATION
Certain statements in this news release are "forward-looking
statements", which reflect current expectations of the management
of Magnetic North regarding future events or Magnetic North's
future performance. All statements other than statements of
historical fact contained in this news release may be
forward-looking statements. Such forward-looking statements
involve known and unknown risks, uncertainties and other factors
that may cause actual results or events to differ materially from
those anticipated in the forward-looking statements.
Magnetic North believes that the expectations reflected in such
forward-looking statements are reasonable, but no assurance can be
given that these expectations will prove to be correct and such
forward-looking statements should not be unduly relied upon. The
forward-looking statements are expressly qualified in their
entirety by this cautionary statement. The forward-looking
statements are made as of the date of this news release and
Magnetic North assumes no obligation to update or revise them to
reflect new events or circumstances, except as expressly required
by applicable securities law. Further information regarding risks
and uncertainties relating to Magnetic North and its securities
can be found in the disclosure documents filed by Magnetic North
with the securities regulatory authorities, available at
www.sedar.com.
SOURCE Magnetic North Acquisition Corp.