Magnetic North Announces CAD$500,000 Private Placement

Magnetic North Acquisition ( (TSE:MNC) ) just unveiled an announcement.

Magnetic North Acquisition Corp. has announced a non-brokered private placement of up to CAD$500,000 through unsecured, interest-bearing promissory notes. The funds raised will be used for general corporate purposes, and the offering may be repaid in Series A Preferred shares. This move is expected to enhance the company’s financial flexibility and support its ongoing operations, potentially impacting its market positioning and stakeholder interests.

More about Magnetic North Acquisition

Magnetic North Acquisition Corp. invests and manages businesses on behalf of its shareholders, leveraging its management, operations, and capital markets expertise. With offices in Calgary and Toronto, the company focuses on ensuring the success of its investee companies. Its common and preferred shares trade on the TSX Venture Exchange under the symbols MNC and MNC.PR.A, respectively.

Average Trading Volume: 27,020

Technical Sentiment Signal: Buy

Current Market Cap: C$7.68M

See more insights into MNC stock on TipRanks’ Stock Analysis page.