Mr. Graeme Dick reports

MAGNETIC NORTH ACQUISITION CORP. CONFIRMS SUSPENSION OF TRADING

Magnetic North Acquisition Corp., further to its news release of July 4, 2023, the TSX Venture Exchange suspended trading in the company's securities on July 5, 2023, as a result of a cease trade order (CTO) issued by the Alberta Securities Commission. The CTO was issued as a result of a delay in the filing of the company's audited annual financial statements, accompanying management discussion and analysis, and certifications for the financial year ended Dec. 31, 2022, and the corresponding interim financial statements, management discussion and analysis, and certifications for the period ended March 31, 2023 (collectively, the filings).

Upon completion of the filings and revocation of the CTO by the Alberta Securities Commission, the company will submit the required materials to the TSX-V requesting the reinstatement of trading. Revocation of the CTO and reinstatement of trading are expected to occur within a few days after the filings are made.

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, the company's experienced management team applies its considerable management, operations and capital markets expertise to ensure its investee companies are as successful as possible for shareholders. The TSX Venture recently announced that Magnetic North is a 2021 TSX Venture 50 recipient.

We seek Safe Harbor.