On October 1, 2021, 79North Inc. completed a non-brokered private placement of 5,668,300 units at a price of $0.15 per unit for aggregate gross proceeds of $850,245. The offering closed in two tranches, the first occurring on August 17, 2021 and the second occurring on October 1, 2021.
Each unit consists of one common share of 79North and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one common share of 79North at a price of $0.25 per common share until August 17, 2024.
Cassels acted for 79North.