Magnetic North Acquisition Corp. Announces Conditional Approval to List Series A Preferred Shares on the TSX Venture Exchange...
October 13 2020 - 6:23PM
Magnetic North Acquisition Corp. (TSXV: MNC)
(“
Magnetic North” or the
“
Company”) is pleased to announce that it has
received conditional acceptance for the listing of the Company’s
Series A Preferred Shares on the TSX Venture Exchange (the
“
TSXV”).
Completion of the listing is subject to certain
customary conditions including the filing of final documentation
with the TSXV. It is anticipated Magnetic North’s Series A
Preferred Shares will trade on the TSXV under the ticker symbol
“MNC.PR.A” in due course.
Andrew Osis, Co-CEO Magnetic North stated, “This
is a significant milestone in Magnetic North’s history. The listing
of the Series A Preferred Shares is the final step in establishing
our capital structure for the benefit of our shareholders over the
long-term.”
The Series A Preferred Shares are offered and
sold in Canadian jurisdictions to "accredited investors" pursuant
to the exemption from the prospectus requirement under Section 2.3
of National Instrument 45-106 – Prospectus Exemptions and such
other exemptions from the prospectus requirements and subject to
certain conditions including, but not limited to, the receipt of
all necessary regulatory approvals including the approval of the
TSXV.
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 trade on the TSX Venture Exchange under the
stock symbol MNC. 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.
For further information, please contact:
Graeme Dick |
Stephen McCormick |
Investor
Relations |
VP, Capital
Markets |
403-561-8989 |
403-619-6898 |
graeme@colwellcapital.com |
stephen@magneticnac.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
This news release contains “forward-looking
information” within the meaning of Canadian securities legislation.
Forward-looking information generally refers to information about
an issuer’s business, capital, or operations that is prospective in
nature, and includes future-oriented financial information about
the issuer’s prospective financial performance or financial
position. The forward-looking information in this news release
includes the listing of the Series A Preferred Shares on the
TSXV.
The Company has made certain material
assumptions, including but not limited to assumptions with respect
to: prevailing market conditions; general business, economic,
competitive, political and social uncertainties; and the ability of
the Company to execute and achieve its business objectives to
develop the forward-looking information in this news release. There
can be no assurance that such statements will prove to be accurate,
as actual results and future events could differ materially from
those anticipated in such statements. Accordingly, readers should
not place undue reliance on forward-looking statements.
Actual results may vary from the forward-looking
information in this news release due to certain material risk
factors. These risk factors include but are not limited to: adverse
market conditions; reliance on key and qualified personnel; and
regulatory and other risks associated with the industries in which
the Company's portfolio companies operate, in general. The Company
cautions that the foregoing list of material risk factors and
assumptions is not exhaustive.
The Company assumes no obligation to update or
revise the forward-looking information in this news release, unless
it is required to do so under Canadian securities legislation.
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