Magnetic North Acquisition Corp. (TSXV: MNC; MNC.PR.A) (“
Magnetic North” or the “
Company”) is providing this bi-weekly update on the status of the management cease trade order granted on May 3, 2021 (the “
MCTO”) by its principal regulator, the Alberta Securities Commission, under National Policy 12-203 -
Management Cease Trade Orders (“
NP 12-203”), following the Company’s announcement on April 28, 2021 (the “
Default Announcement”) that it was unable to file its audited annual financial statements, management’s discussion and analysis and related certifications for the 15 months ended December 31, 2020 (the “
Documents”) on or before April 30, 2021, as required under applicable securities laws. The Company still expects to file the Documents by May 31, 2021.