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Magnetic North Acquisition Corp. Announces Presentation of Fiscal 2020 End of Year and First Quarter 2021 Results

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Magnetic North Acquisition Corp. Announces Presentation of Fiscal 2020 End of Year and First Quarter 2021 Results

** Not suitable for distribution to the United States Newswire services or publication, distribution or broadcast, directly or indirectly, in the United States. Any breach of this restriction may constitute a violation of US securities laws. **

CALGARY, Alberta and TORONTO, June 2, 2021 (GLOBE NEWSWIRE) – Magnetic North Acquisition Corp. (TSXV: MNC; MNC.PR.A) (“Magnetic North“Or the”Business“) You may announce that the fiscal year results for the period ended December 31, 2020 and the first quarter fiscal results for the period ended March 31, 2021 have been recorded in SEDAR. As a result of the presentation of the annual results, the Management Discontinuation Order has expired and is no longer in effect Magnetic North’s Management and Board of Directors wish to thank all of the Company’s shareholders for their patience and support.

The Company’s financial statements, along with management related discussion and analysis, can be found on SEDAR and on the Company’s website at www.magneticnac.com.

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 their considerable capital markets and management experience to ensure that their investees are as successful as possible for shareholders. Magnetic North’s common and preferred shares are traded on the TSX Venture Exchange under the ticker symbol MNC and MNC.PR.A, respectively. TSX Venture announced that Magnetic North is a “2021 TSX Venture 50” beneficiary. For more information on Magnetic North, visit their website at www.magneticnac.com. Magnetic North securities filings can also be accessed at www.sedar.com.

For more information contact:

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this notice.
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CAUTIONARY STATEMENT REGARDING FUTURE INFORMATION

This press release contains “forward-looking information” within the meaning of Canadian securities law. Forward-looking information generally refers to information about an issuer’s business, capital, or operations that is forward-looking in nature and includes forward-looking financial information about the issuer’s prospective financial performance or financial position. The forward-looking information in this press release includes the statement about the company meeting the ASC conditions for the MCTO to be revoked.

The Company has made certain material assumptions, including but not limited to: prevailing market conditions; general commercial, economic, competitive, political and social uncertainties; and the company’s ability to execute and achieve its business objectives to develop the forward-looking information in this press release. There can be no guarantee that such statements will 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 differ from the forward-looking information in this press release due to certain significant risk factors. These risk factors include, but are not limited to: adverse market conditions; dependence on key and qualified personnel; and regulatory and other risks associated with the industries in which the companies in the company’s portfolio operate, in general. The Company advises that the above list of material risk factors and assumptions is not exhaustive.

The Company does not undertake any obligation to update or revise the forward-looking information contained in this press release unless required by Canadian securities laws.

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