Magnetic North Acquisition Corp. Grants Stock Options

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CALGARY, Alberta and TORONTO, June 01, 2020 (GLOBE NEWSWIRE) — Magnetic North Acquisition Corp. (TSXV: MNC) (“Magnetic North” or the “Company”) is pleased to announce a grant of stock options (the “Options”) in accordance with the terms and conditions of the Company’s Stock Option Plan to certain officers, directors and employees of the Company, to purchase an aggregate of 890,000 common shares in the capital stock of the Company.

The Options are exercisable for a period of five years from the date of grant at a price of $0.83 per share.

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 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.

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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 may contain “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 Company assumes no obligation to update or revise any forward-looking information in this news release, unless it is required to do so under Canadian securities legislation.