Sixty North Gold Arranges Debt Settlements with Officers
Vancouver, British Columbia--(Newsfile Corp. - September 25, 2019) - Sixty North Gold Mining Ltd. (CSE: SXTY) (FSE: 2F4) (OTC Pink: SXNTF) (the "Company" or "Sixty North Gold") - is pleased to announce that it has arranged debt settlements with Messrs. N. John Campbell, Chairman and CFO, and Handford Management Inc. (a private company controlled by Ronald L. Handford, Vice-President Corporate Development & Secretary of the Company) to settle the sums of $22,500 owed to each of them for accrued management consulting fees (April 15 to August 31, 2019 and May 15 to August 31, 2019, respectively), to be paid by the issuance and delivery of a total of 600,000 common shares in the aggregate at a deemed value of $0.075 per share, plus GST.
Resignation of Ian Klassen from the Board of Directors
The Company announces the resignation of Ian Klassen from the Board of Directors, effective September 4, 2019. Mr. Campbell stated, "The Board would like to thank Mr. Klassen for his effective contribution to the Company through its several rounds of financing, IPO, operational milestones, and marketing awareness programs. We look forward to his continued contributions in his new role as Advisor to the Board of the Company."
About the Company
The Company is engaged in acquisition, exploration and development of mineral properties. Its principal target is the exploration for gold on the Mon Gold Property, 40 km north of Yellowknife, NWT. The Mon Gold Property consists of 11 contiguous mining leases and 3 mineral claims, comprising an aggregate 1,536.92 acres, located in the South MacKenzie Mining District, NWT. For more information, please refer to the Company's Prospectus dated January 19, 2018 available on SEDAR (www.sedar.com), under the Company's profile.
ON BEHALF OF THE BOARD OF DIRECTORS
Chairman, CFO and Director
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 Prospectus dated January 19, 2018 available on SEDAR (www.sedar.com), under the Company's profile.
THE CANADIAN SECURITIES EXCHANGE HAS NOT APPROVED NOR DISAPPROVED THE CONTENT OF THIS PRESS RELEASE.
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