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CALGARY, Alberta and TORONTO, June 02, 2021 (GLOBE NEWSWIRE) – Magnetic North Acquisition Corp. (TSXV: MNC; MNC.PR.A) (“Magnetic north“or the”Company“) is able to announce that the results for the fiscal year for the period ended December 31, 2020 and the results for the first quarter for the period ended March 31, 2021 have been filed on SEDAR. Following the filing of the results annual, the Management Cessation Order has lapsed and is no longer in effect The management and board of directors of Magnetic North would like to thank all of the Company’s shareholders for their patience and support. .

The Company’s financial statements and the related MD&A are available 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 its considerable management and financial market expertise to ensure that the companies in which it invests are as successful as possible for shareholders. The common and preferred shares of Magnetic North trade on the TSX Venture Exchange under the symbols MNC and MNC.PR.A, respectively. The TSX Venture Exchange announced that Magnetic North is a recipient of the “2021 TSX Venture 50”. For more information about Magnetic North, visit their website at www.magneticnac.com. Magnetic North’s securities deposits can also be viewed at www.sedar.com.

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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 relevance or accuracy of this news. Release.

CAUTION REGARDING FORWARD-LOOKING INFORMATION

This press release contains “forward-looking information” within the meaning of Canadian securities laws. Forward-looking information generally refers to information about the business, capital or operations of an issuer that is forward-looking in nature, and includes forward-looking financial information about the financial performance or future financial condition of the issuer. The forward-looking information contained in this press release includes the statement that the Company meets the conditions of the ASC to revoke the MCTO.

The Company has made certain important assumptions, including, but not limited to: existing market conditions; general business, economic, competitive, political and social uncertainties; and the Company’s ability to execute and achieve its business objectives to develop the forward-looking information contained in this press release. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Therefore, readers should not place undue reliance on forward-looking statements.

Actual results may differ from the forward-looking information contained in this press release due to certain important risk factors. These risk factors include, but are not limited to: adverse market conditions; the use of key and qualified personnel; and regulatory and other risks associated with the industries in which the Company’s portfolio companies operate, generally. The Company cautions that the foregoing list of material risk factors and assumptions is not exhaustive.

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



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