Sixty North Gold Provides Mon Gold Mine Update and Announces Non-Brokered Unit Offering
Sixty North Gold (OTC: SXNTF) updates progress to restart sustainable gold production at its wholly-owned Mon Gold Mine and announces a fully subscribed non-brokered unit offering.
Key facts: the company says it invested $9 million to acquire and develop Mon Gold, plans to commission a 100 tpd mine and mill in summer 2026, and arranged a fully subscribed offering of 5,250,000 units at $0.06 to raise up to $315,000. Each unit includes one share and one-half warrant (exercise price C$0.10, 12-month term) with an accelerated 30-day call provision if shares trade >C$0.15 for 10 consecutive days. Proceeds will fund exploration, development and working capital.
Sixty North Gold (OTC: SXNTF) aggiorna i progressi per riavviare una produzione sostenibile di oro presso la sua Mon Gold Mine interamente di proprietà e annuncia un'offerta di unità non-brokerata completamente sottoscritta.
Fatti chiave: l'azienda afferma di aver investito $9 milioni per acquisire e sviluppare Mon Gold, prevede di mettere in funzione una miniera e un mulino da 100 tpd nell'estate 2026 e ha organizzato un'offerta completamente sottoscritta di 5.250.000 unità a $0,06 per raccogliere fino a $315.000. Ogni unità comprende una azione e una warrante pari a una warrante per 1/2 azione (prezzo di esercizio C$0,10, durata 12 mesi) con una clausola di richiamo accelerato di 30 giorni se le azioni scambiano >C$0,15 per 10 giorni consecutivi. I proventi finanzieranno l'esplorazione, lo sviluppo e il capitale circolante.
Sixty North Gold (OTC: SXNTF) actualiza el progreso para reiniciar la producción sostenible de oro en su Mon Gold Mine, de propiedad total, y anuncia una oferta de unidades no intermediada y completamente suscrita.
Hechos clave: la empresa dice que invirtió $9 millones para adquirir y desarrollar Mon Gold, planea poner en marcha una mina y una planta de procesamiento de 100 tpd en verano de 2026, y organizó una oferta completamente suscrita de 5.250.000 unidades a $0,06 para recaudar hasta $315.000. Cada unidad incluye una acción y una warrant de la mitad de una acción (precio de ejercicio C$0,10, plazo de 12 meses) con una disposición de compra acelerada de 30 días si las acciones cotizan >C$0,15 durante 10 días consecutivos. Los ingresos financiarán exploración, desarrollo y capital de trabajo.
Sixty North Gold (OTC: SXNTF)는 전액 소유의 Mon Gold 광산에서 지속 가능한 금 생산 재개 진행 상황을 업데이트하고 중개인 없이 완전히 청약된 유닛 공모를 발표합니다.
주요 사실: 회사는 Mon Gold를 인수 및 개발하는 데 900만 달러를 투자했다고 밝히고, 100 tpd의 광산과 공장을 2026년 여름에 가동할 계획이며, 5,250,000 유닛을 $0.06에 전액 구독으로 모집하여 최대 $315,000를 모금했습니다. 각 유닛은 하나의 주식과 1/2 워런트를 포함하며(행사가격 0.10캐나다달러, 만기 12개월), 주가가 연속 10일간 0.15캐나다달러를 넘으면 30일 조기매수 조항이 적용됩니다. 조달금은 탐사, 개발 및 운전자본에 사용됩니다.
Sixty North Gold (OTC: SXNTF) met à jour les progrès pour redémarrer une production d'or durable sur sa Mon Gold Mine entièrement détenue et annonce une offre d'unités non intermédiaire entièrement souscrite.
Points clés : la société indique avoir investi 9 millions de dollars pour acquérir et développer Mon Gold, prévoit de mettre en service une mine et une usine de traitement de 100 tpd à l'été 2026, et a organisé une offre entièrement souscrite de 5 250 000 unités à $0,06 pour lever jusqu'à $315 000. Chaque unité comprend une action et une warrant pour une demi-action (prix d'exercice C$0,10, term de 12 mois) avec une clause d'appel accéléré de 30 jours si les actions se négocient à >C$0,15 pendant 10 jours consécutifs. Le produit sera utilisé pour l'exploration, le développement et le fonds de roulement.
Sixty North Gold (OTC: SXNTF) aktualisiert den Fortschritt, um die nachhaltige Goldproduktion in der vollständig im Besitz von Mon Gold Mine wieder aufzunehmen, und kündigt ein vollständig beurkundetes, nicht-brokeriertes Unit-Angebot an.
Schlüsselzahlen: Das Unternehmen behauptet, 9 Millionen USD investiert zu haben, um Mon Gold zu erwerben und zu entwickeln, plant die Inbetriebnahme einer 100 tpd Mine und eines Mühlenbetriebs im Sommer 2026 und hat ein vollständig beurkundetes Angebot von 5.250.000 Einheiten zu 0,06 USD erstellt, um bis zu 315.000 USD zu beschaffen. Jede Einheit enthält eine Aktie und eine halbe Warrant (Ausübungspreis US-C$ 0,10, Laufzeit 12 Monate) mit einer beschleunigten 30-tägigen Call-Vereinbarung, wenn die Aktien 10 aufeinander folgende Tage über US-C$ 0,15 handeln. Die Erlöse dienen der Erkundung, Entwicklung und dem Working Capital.
Sixty North Gold (OTC: SXNTF) تحدث التقدم لإعادة تشغيل إنتاج الذهب المستدام في منجم مون جولد المملوك بالكامل وتعلن عن عرض وحدات غير وسيط مكتمل الاكتتاب.
حقائق رئيسية: تقول الشركة إنها استثمرت 9 ملايين دولار لشراء مون جولد وتطويره، وتخطط لتشغيل منجم ومطحن بقدرة 100 طن/يوم في صيف 2026، ونظمت عرضاً للوحدات مكتمل الاكتتاب وغير وسيط من 5,250,000 وحدة بسعر $0.06 لجمع حتى $315,000. تتضمن كل وحدة سهم واحد ونصف من الضمان التنفيذي (سعر الإتخاذ C$0.10، لمدة 12 شهراً) مع فقرة سحب سريعه خلال 30 يوماً إذا تداولت الأسهم >C$0.15 لمدة 10 أيام متتالية. ستستخدم العائدات في الاستكشاف والتطوير ورأس المال العامل.
Sixty North Gold (OTC: SXNTF) 更新在全资拥有的 Mon Gold Mine 重新启动可持续金生产的进展，并宣布一项全额认购的单位发行。
关键事实： 公司表示已投资 $900万美元 用于收购和开发 Mon Gold，计划在 2026 年夏季 启动 100 吨/日 的矿山与磨矿厂，并安排了以 $0.06 发行的全额认购的 5,250,000 单位，最高募集 $315,000。每单位包含一股和半张买入权（执行价为 C$0.10，期限 12 个月），若股价连续 10 天> C$0.15，将有一个提前 30 天的召回条款。募集资金将用于勘探、开发和运营资金。
- Company invested $9 million into Mon Gold acquisition and development
- Planned commissioning of a 100 tpd mine and mill in summer 2026
- Offering is fully subscribed for up to $315,000
- Unit offering size $315,000 is small relative to $9 million invested
- Issuance of 5,250,000 units plus warrants increases potential dilution
- Securities restricted from resale for 4 months, limiting liquidity
Vancouver, British Columbia--(Newsfile Corp. - October 14, 2025) - Sixty North Gold Mining Ltd. (CSE: SXTY) (FSE: 2F40) (OTC Pink: SXNTF) (the "Company" or "Sixty North Gold") is pleased to update shareholders on its progress to restart sustainable gold production at its wholly-owned Mon Gold Mine.
Dr. Dave Webb, President and CEO states, "Sixty North Gold Mining Ltd. plans to commission a 100 tpd gold mine and mill in the summer of 2026. The Company has invested over
"We believe that restarting this historic one ounce per tonne past producer will allow our shareholders to benefit directly in the gold market in this time of record prices."
Financing Arranged
Sixty North Gold is also pleased to report that the Company has arranged a non-brokered financing of up to 5,250,000 units (the "Units") at an offering price of
Each Unit is comprised of one Share and one-half of one common share purchase warrant of the Company (each whole warrant, a "Warrant"). Each Warrant will be exercisable to purchase one Share at a price of Cdn.
The securities for the Offering will bear a legend restricting resale until four months from closing. Finder's fees, as allowed, may be paid on portions of this financing.
The proceeds from the Offering will be used for further exploration and development of the Mon Gold Property located in NWT, and for the Company's general working capital requirements.
About the Company
Sixty North is developing mining operations for gold on its 100-per-cent-owned Mon Gold Project, which extracted 15,000 tonnes of ore to depths of only 15 metres below surface, recovering an estimated 15,000 ounces of gold in the 1990s (Company Technical Report NI 43-101, August 3, 2023 on SEDAR+ or https://sixtynorthgold.com/projects/technical-report/. The North Ramp has been reopened and has been extended to the target portion of the vein. The company plans to develop stopes in the East Limb, West Limb and DD Zone to extract and to feed a 100 tpd gravity-flotation mill.
Additional gold, silver and base metal targets occur on the property and will be explored and developed as warranted.
The Yellowknife gold camp hosts two mines that averaged 30 gpt gold or better (Discovery Mine with one million ounces of gold produced, and Sixty North Gold's Mon Mine), and two that averaged 15 gpt or better for a total production of over 14 million ounces of gold (Con Mine and Giant Mine); (ref. Company Technical Report NI 43-101, August 3, 2023).
The technical content of this release has been reviewed and approved by Dr. D.R. Webb, P.Geol, President and CEO of Sixty North Gold Mines Ltd.
For more information, please refer to the Company's public filings available on SEDAR+ (www.sedarplus.ca), under the Company's profile.
ON BEHALF OF THE BOARD OF DIRECTORS
"Dave Webb"
Dave Webb, President & CEO
For further information, please contact:
Dave Webb
Tel.: 604 818-1400
Email: dave@drwgcl.com
Website: www.sixtynorthgold.com
Statements about the Company's future expectations and all other statements in this press release other than historical facts are "forward-looking statements". Such forward-looking statements are based on numerous assumptions, and involve known and unknown risks, uncertainties and other factors, including risks inherent in mineral exploration and development, which may cause the actual results, performance, or achievements of the Company to be materially different from any projected future results, performance, or achievements expressed or implied by such forward-looking statements. Further details about the risks applicable to the Company are contained in the Company's public filings available on SEDAR+ (www.sedarplus.ca), under the Company's profile.
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
THE CANADIAN SECURITIES EXCHANGE HAS NOT APPROVED NOR DISAPPROVED THE CONTENT OF THIS PRESS RELEASE.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/270458
FAQ
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