Magnetic North Acquisition Corp. Provides Bi-Weekly Update On Status Of Management Cease Trade Order

Core Viewpoint - Magnetic North Acquisition Corp. is currently under a management cease trade order due to its inability to file audited annual financial statements for the year ended December 31, 2024, by the required deadline of April 30, 2025, but expects to file these documents by June 30, 2025 [1][2]. Group 1 - The management cease trade order (MCTO) was granted by the Alberta Securities Commission on May 9, 2025, following the company's default announcement on May 8, 2025 [1]. - The company is committed to satisfying the alternative information guidelines under NP 12-203 and will issue bi-weekly default status reports until the filing delay is resolved [2]. - There are no anticipated specified defaults or insolvency proceedings affecting the company at this time [2]. Group 2 - Magnetic North Acquisition Corp. invests and manages businesses on behalf of its shareholders, emphasizing that capital alone does not guarantee success [3]. - The company operates offices in Calgary and Toronto and has a management team with significant expertise in management, operations, and capital markets [3]. - Magnetic North's common and preferred shares are traded on the TSX Venture Exchange under the symbols MNC and MNC.PR.A, respectively, and it was recognized as a "2021 TSX Venture 50" recipient [3].