Magnetic North Acquisition Corp. Announces Options Grant

Magnetic North Acquisition Corp. (TSXV: MNC; MNC.PR.A)

(“

Magnetic North

” or the “

Company

”) is pleased to announce a grant of stock options (the “Options”) in accordance with the terms and conditions of the Company’s Stock Option Plan to certain and various consultants of the Company. The Company has issued options to acquire an aggregate of up to 500,000 common shares and 12,500 preferred shares of the Corporation at an exercise price of $0.175 for the common shares, and at an exercise price of $7.00 for the preferred shares and expiring on January 20, 2027.

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 common shares and preferred shares trade on the TSX Venture Exchange under the stock symbol MNC and MNC.PR.A, respectively. The TSX Venture announced that Magnetic North is a “2021 TSX Venture 50” recipient. 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.For Further Information, Please Contact:

Graeme Dick	Stephen McCormick
Investor Relations	VP, Capital Markets
403-451-0939	403-451-0939
[e-mail]	[e-mail]

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.