Magnetic North Acquisition Corp. Announces Issuance of Management Cease Trade Order by ASC

Core Points - Magnetic North Acquisition Corp. has received a management cease trade order (MCTO) from the Alberta Securities Commission due to delays in filing its annual audited financial statements for the year ended December 31, 2024 [1][2] - The MCTO restricts trading in the company's securities by its Co-CEOs and CFO until the annual filings are completed and the MCTO is lifted, but does not affect non-insider shareholders [3] - The company aims to file the annual financial statements by June 30, 2025, and will issue a news release upon completion [4] - During the MCTO period, the company will comply with alternative information guidelines and issue bi-weekly default status reports [5] Company Overview - Magnetic North Acquisition Corp. invests and manages businesses on behalf of its shareholders, emphasizing that capital alone does not guarantee success [6] - The company operates offices in Calgary and Toronto and has a management team with significant expertise in management, operations, and capital markets [6] - Magnetic North's common and preferred shares are traded on the TSX Venture Exchange under the symbols MNC and MNC.PR.A, respectively [6]