Magnetic North Announces Appointment of Vice President of Capital Markets and Granting of Stock Options

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CALGARY, Alberta and TORONTO, July 16, 2020 (GLOBE NEWSWIRE) — Magnetic North Acquisition Corp. (TSXV: MNC) (“Magnetic North” or the “Company”), is pleased to announce the appointment of Stephen McCormick as Vice President of Capital Markets of the Company.

Mr. McCormick is a senior executive with over twenty years of experience across various industry sectors, including investment management, telecom and information technology. Mr. McCormick has formerly held positions with BMO Nesbitt Burns providing integrated wealth management solutions for high net worth clients, as well as, working on corporate structures for private businesses. His proven track record and expertise in finance, marketing, business transformation and business development is invaluable to Magnetic North and its shareholders.

Magnetic North is also pleased to announce the granting of an aggregate of 500,000 stock options (the “Options”) to certain officers, directors, consultants and employees of the Company. The Options are exercisable for a periods of up to five years from the date of grant at a price of $0.64 per share.

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, operations and capital markets expertise to ensure its investee companies are as successful as possible for shareholders. Magnetic North shares trade on the TSX Venture Exchange under the stock symbol MNC. For more information about Magnetic North, visit its website at www.magneticnac.com. Magnetic North’s securities filings can also be accessed at www.sedar.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

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